COLOMBO (Commodity Online) : In Sri Lanka, natural rubber prices have recovered to chart 650 Srilankan rupees a kilo at the beginning of this week; “plantations would make millions.” was the comment of Amanda Weerasinghe, managing director of Almar Trading.
For at least the next year or two, natural rubber prices would remain at $5/kilo, expects Amanda Weerasinghe.
This is according to a report from http://www.lankabusinessonline.com .
The Japan disaster had taken rubber prices to a tail spin and at one point, was down in the abyss at 500 Srilankan rupees for TPC 1X grade.
The disaster had made automobile manufacturers there to halt operations for a while. With the countries like Thailand under selling pressure, the prices slumped and globally, traders invested in rubber bled.
But now, with demand from emerging economies for natural rubber in full throttle, the fundamentals of rubber remain strong.
Besides, the auto industry in Japan has also started functioning.
source - www.commodityonline.com
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