11 October 2013 17:45 [Source: ICIS news]
LONDON (ICIS)--Offers of Indian ethyl acetate to European customers are becoming more expensive because of the strengthening rupee against the dollar, an Indian distributor said on Friday.
“The exchange rate is becoming a problem,” the source said. “There’s a stronger rupee, there’s been a 0.8-1% appreciation in the currency compared to three days ago. We can’t offer at relatively cheap prices any more,” the source said.
It said its prices are €10-15/tonne higher than last week, with an increase of €20/tonne ($27/tonne) during the last fortnight.
The distributor said its European customers understand its need to increase prices, and that etac will continue to move from India to Europe.
($1 = €0.74)
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