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Friday, May 27, 2011

Rubber prices to depend on Japan’s recovery

By Jithendra Antonio

Though future of rubber prices are encouraging, Chairman of Balangoda Plantations PLC (BALA) Harry Jayawardena said, all depends on factors such as the change in global weather patterns, and Japan’s recovery.

Jayawardena in his review for the financial year ended in 31 December 2011 said, tensions spreading across the Middle East will also affect future of Rubber prices. In the lately published annual report of Balangoda Plantations PLC, Jayawardena goes on to explain that the country’s rubber production has recorded an increase of 16 million kilogrammes during 2010, in spite of unfavourable weather conditions experienced during the 3rd and the 4th quarters in the Sabaragamuwa District.

“Rubber prices have been at better levels last year,” Jayawardena notes adding that the main driving force being emerging economies of China and India where car production leapfrogged. “There were instances when the price of Sheet Rubber exceeded the premium grades of Crepe in 2010, which was mainly due to the increased rubber demand for tyre and automobile industries
source - www.dailymirror.lk