Price for quality white latex crepe unique to Sri Lanka and used primarily by the pharmacutical industry fetched a record Rs. 527 per kilo at Tuesday’s rubber auctions.
The supplier was Galatura Estate managed by Balangoda Plantations PLC, a Stassen Group company. The broker for this sale was J.D. & Sons (Pvt.) Ltd. and the buyer C.W. Mackie PLC. The total quantity bought was 2,150 kg.
Forty three years ago in August 1967, Latex Crepe 1X was sold at the public auction at 68 cents per pound.
Another exclusive Sri Lankan product, sole crepe, which is used for the manufacture of high fashion footwear, is trading at around Rs. 510 per kg.
High quality white latex crepes which are produced only in Sri Lanka may absorb better prices with the world gradually coming out from the recession.
Rubber prices are set to remain high but at more realistic levels than prevalent currently for the better part of the year. Unpredictable weather patterns and the movement of crude oil prices will contribute to the price of natural rubber.
Meanwhile Ribbed Smoked Sheet used mainly in the tyre industry and globally mass produced, which was selling at prices well above latex crepe a few months ago, has since lost ground, currently fetching around Rs. 375-380 a kg, due to poor weather and high cost of production locally, while there was a glut of production of this kind in overseas markets, depressing prices of this particular grade.
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