The Sattur Chamber of Commerce and Industry has urged Union Petroleum Minister Mr Murali Deora to cut wax prices by 30 per cent in consonance with the reduced price of crude oil.
In a statement, the Chamber Secretary, Mr P.T.K.A. Balakrishnan, said match wax rates are often increased in accordance with the prevailing rate of crude oil in the international market. There is also shortage in the supply of wax. The high price of wax forces match producers to raise prices, he said.