Indian Granite Hit By U.S. Slowdown
[2008-12-23 17:04:40]
| Indian Granite Hit By U.S. Slowdown | |
| India Dec 12,2008 www.stonebusiness.net | |
|
CHENNAI, India – The soft U.S. market for dimensional
stone
is causing more than a ripple effect on India’s
granite
industry.
According to thehindubusinessline.com, quarriers and processors in India expect a 50-percent drop in granite exports during the coming year , following a drop of 20 percent during the past year. “Even that is not such a major problem,” says Mr. R. Veeramani, chairman of the Granite, Natural Stone s and Product Panel of the Chemicals and Allied Products Export Promotion Council. Importers in other countries aren’t paying for shipments; Veeramani noted that one company is profitable only on paper. The report also noted that granite prices dropped by 25 percent in the past six months. It noted that black granite used to go for $95 m², but now sells -- when someone’s buying – at $70 m². Approximately 1,200 factories cut rough into semi-finished and finished stone goods. Veeramani, who’s also chairman of Gem Granites in Chennai, said that at least 70 per cent of these factories are working at 20 per cent capacity or less. Government policy also is hindering production, according to Mr. N. Mahesh, president of the Tamil Nadu Granite Quarry Owners & Exporters Association. Most of the quarries in the state of Tamil Nadu – home to about 60 percent of the industry – are under the control of the state-owned Tamil Nadu Minerals Ltd (TAMIN), and Mahesh says that most of TAMIN’s quarries are going unoperated. |
Source: 环球石材网
Keywords:Stone; marble
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