LAB Ex-Delhi NCR prices were steady for the week. Prices of feedstock benzene were on the low side, enabling local producers to keep production levels at ease. Middle Eastern imports from Saudi Arabia, UAE, and Qatar were also steady in price, and supply shocks were circumvented.
In a regulatory notice, the Central Board of Indirect Taxes and Customs (CBIC) has extended further the validity of the earlier CAVR Order (No. xx/xxxx-Customs) for LAB under HS Code xxxxxxxx. The order from xx September xxxx to xx September xxxx ensures continuity of compliance for importers.
On the demand side, LABSA consumption remained flat while the downstream FMCG sector was subdued. Consumer purchasing was affected by the GST x.x rollout, with consumers delaying purchases, hoping for lower tax-related prices. FMCG companies such as Hindustan Unilever Limited (HUL) have indicated near-flat to low-single-digit growth in the September quarter, citing GST-related...
