17 August 2009

Higher prices for Sri Lanka’s rubber exports

17th August 2009, www.news.lk

Sri Lanka’s rubber exports this month fetched a higher price in the international market. It is the highest since December last year, claimed Plantation Industries ministry sources.

Sheet rubber has increased from Rs. 125 to Rs. 225 per kilo while crepe rubber has increased from Rs. 225 to Rs. 229 per kilo.

This is an overall price increase of nearly 30 percent.

According to the Rubber Development Department, 97,375 kg crepe and 30,565 kg of sheet rubber were offered for sale at yesterday’s auctions.

Sri Lanka produced two types of rubber for the international market in the form of finished goods and raw (material) rubber.

Sri Lanka’s main buyer is Pakistan while the European Union, Singapore and USA are among the other buyers.

Foreign exchange earnings through rubber exports amounted to Rs. 76 billion last year.

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