Truck rentals in open market plummet 18-27% in April: IFTRT
May 03, 2021
Transport Union AIMTC seeks relief for truckers Truck rentals plummeted by 18-27 per cent on trunk routes during April 2021 against the rates on a sequential basis in the open market, as per Indian Foundation of Transport Research and Training (IFTRT), a transport tracking research unit.
This was because of slump in factory output by 35-40 per cent due to production cuts and closures in many states triggered by the present wave of Covid calamity resulting in local level curfews and lockdowns, SP Singh, Senior Fellow and Coordinator, Indian Foundation of Transport Research and Training (IFTRT), New Delhi, said in a note. Also, there was 10-15 per cent drop in arrivals of fruits and vegetables in mandis (or Agricultural Price Marketing Committees). IFTRT projects the truck freight rentals and sales to remain timid for current and most likely for next quarter of current fiscal.