MUMBAI, June 29 (Reuters) - Apollo Tyres Ltd , the country's second largest tyre maker by sales, is considering increasing product prices next week, as rubber prices soared to a record high, a senior official said on Tuesday.
"We are in the process of finalising it, it should be within the next week or so," Sunam Sarkar, chief financial officer told Reuters. He did not disclose the quantum of the proposed hike.
Spot prices of rubber, which accounts for about half the total cost of a tyre, rose to a record high of 18,000 rupees on Monday. (Reporting by Aniruddha Basu & Rajendra Jadhav; Editing by)