SRI LANKA: Overseas players visit Colombo Rubber Auction

The delegates from over 25 countries visited the auction and they included government officials, commodity and investment analysts, rubber buyers and also sector related service suppliers. The delegates were from countries such as Malaysia, Thailand, Indonesia, Philippine, Singapore, UK, Germany, Japan and South Korea.

The century old Colombo Rubber Auction is the only rubber auction in the world and was commenced in the year 1910. Over 10 million kilograms of rubber is sold during the auction per annum.The auction takes place every week on Tuesdays and Wednesdays.

Source: Daily "The Nation”, Colombo; 2 Nov 2014
(Syed Rashid Ali, Karachi, Pakistan)