NEW DELHI, April 30 (Reuters) - Truck rentals in India dropped by 4% to 5% in April after a sharp 9% to 10% decline in March on key routes due to Iran war and low supplies from the key manufacturing hub, the Indian Foundation of Transport Research and Training (IFTRT) said.
o IFTRT said there is a decline of about 15% to 20% in dispatches from manufacturing hubs, particularly small and medium enterprises that account for about 70% of the intra and inter-state cargoes
o Increased arrivals of wheat, pulses and summer fruits and vegetables boosted agri-logistics demand by 20% to 25%, leading to a shifting of capacity to wholesale markets to offset losses in industrial freight, it said
o IFTRT said that while local diesel prices have not been raised, truck tyre prices have risen by 4% to 5% in the last 4 to 6 weeks, increasing operational expenses of the fleet owners
(Reporting by Nidhi Verma, Editing by Louise Heavens)
