- Last Update 2024-07-18 19:35:00
Colombo rubber auctions hit by fuel, dollar crisis
Rubber auctions in Colombo is facing concerns due to the transportation issues and production is now limited to 120-130 MT. This week the prices of Latex Crepe were holding steady at Rs.1450.
The fuel crisis has impacted the rubber auctions with the transportation issue holding back the sellers from sending produce to the auctions and even in the running of their generators at the factories, Asia Siyaka Brokers stated.
They noted that the prices were almost at the same levels but the crop is not doing well since production is reaching the end of the rainy season. And should the weather change there might be a crop loss, it was stated adding that the pesta disease impacting the rubber plantations is still continuing.
Meanwhile, it was noted there is a reduction in chemical imports required in the manufacture of crepe due to the dollar crunch. This has caused a drop in the manufacture of crepe.
Over the last two auctions there had been a quantity of 120-130 MT made available. (Sunimalee)
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