Rubber prices hit new highs at this week’s Rubber Auction conducted at the Ceylon Chamber of Commerce, where three lots of Latex Crepe from Salawa Estate realized an all time record price of Rs. 609/- per Kg, which bettered the previously held record price of Rs. 605/- established just a week ago. Salawa Estate is managed by Pussellawa Plantations Ltd, and is one of the large rubber estates in the country. All three lots were purchased by Almar Trading (Pvt) Ltd, who is one of the leading shippers of Rubber, whilst the sale was conducted through the catalogue of Lanka Commodity Brokers Ltd.
The demand for Rubber has been steadily rising and this trend is expected to continue as the rubber Crops in other major producing countries like Thailand, Indonesia and Vietnam have shown a drop following adverse weather conditions. Additionally, the Motor Vehicle Industry in India has predicted a double digit growth for 2011, and this will also be in favour of strong and sustained demand for rubber this year.
source - www.island.lk
No comments:
Post a Comment