As you are aware of the recent war situation in Russia and Ukraine, It has become critical day by day. Other world-countries have imposed financial sanctions on Russia and stopped purchasing materials from it.
Russia is the second largest gas producing country in the world after the US. On the other hand, India imports approx 80% of its crude oil and gas supply from other countries.
The global Brent crude oil price was at $90 on 25/02/2022. It is at $115 on 03/03/2022. There is an approx 25% price hike in crude oil. So it's very clear that in the near future there will be an increase in the price of natural gas in India.
How This affect you.?
Morbi's ceramic industry depends on natural gas for the production of tiles. As per previous data, the industry consumes 70 lake cubic meters of gas every day.
Gas price accounts for nearly 30-40% of the total cost of Ceramic Tiles. So, prices of Ceramic Tiles will increase as soon as the Indian government revises its gas prices.
As a Ceramic Tiles manufacturing company, we advise our dealer and distributor to fulfill their recent ceramic tiles shortage & demand by immediate order to avoid a price hike.