09/14/2010

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SRI LANKA: Demand for rubber sends prices to soaring heights - Export earnings top Rs 9 billion

Rubber prices in the world market have risen due to the rubber producers' inability to supply products to the world market in the face of escalating demand for rubber products from emerging markets in Asia and other countries.Sri Lanka's Rubber Development Department Director General R.B. Premadasa said the growing demand from the international tyre market for rubber products and super economic powers recovering from the financial crisis in the world have been identified as the main reasons for high demand for rubber in the world.The country's rubber export earnings have shown an increase in the first half in 2010 when compared to corresponding period in 2009 due to escalating rubber prices in the world market.However, total rubber export volume has dropped slightly in the first half in 2010 in comparison to the same period in 2009.Total natural rubber export earnings was Rs 9,554.89 million during the first six months in 2010 and it was Rs 5,262.86 million during the first half in 2009.Total rubber production in the country was 75 million kgs in the first half in 2010 and it was 69 million kgs in the corresponding period in 2009.Total Rubber exports during the fist half in 2009 was 31,022,689 kgs and total rubber export during the first half in 2010 recorded 28,007,385 kgs showing a decline in the export volumes.Prices of sheet rubber and crepe rubber are recording around Rs 350 and Rs 450 per kgs respectively in the local market at present.Total sheet rubber export for the first six months in 2010 was 11,464,710 kgs and it was 13,890,487 kgs during the corresponding period in 2009.Total export volume of sole crepe, scrape crepe and latex crepe recorded 733,634 kgs, 37,000 kgs and 9,593,600 kgs respectively during first six months in 2010.Total export volume of sole crepe, scrape crepe and latex crepe were 1,114,632 kgs, 211,000 kgs and 5,197,752 kgs respectively during the first half in 2009.TSR and Latex and other products exports recorded 1,532,690 kgs and 4,645,751 kgs respectively during the first six months in 2010.Total export volume of TSR and Latex and other products were 4,003,580 kgs and 6,605,238 kgs respectively during the corresponding period in 2009.(Syed Rashid Ali, Karachi, Pakistan)

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