January rubber export earnings Rs 2.6 b

Indunil HEWAGE

Sri Lanka has recorded over Rs two billion export earnings through rubber exports during January.

According to the figures of the Rubber Development Department (RDD), total rubber exports volume and exports earnings in the first month of this year recorded 4821377 Kg and Rs 2613.08 million respectively.

Total rubber production in January 2011 was 14728776 Kg. The rubber price in the local market has gone down and local authorities are still not in a position to ascertain the exact reason for the rubber price decline.

Currently one kilogram of crepe and sheet rubber are sold at Rs 560 and Rs 530 respectively indicating a slump in prices compared to previous weeks.

The massive expansion of automobile industries in the China and India and rubber manufactures' inability to meet the increasing global demand for rubber have also led to the price increase of rubber in the world market.