The Sri Lanka Association of Manufacturers and Exporters of Rubber Products (SLAMERP) says that the cumulative amount of exports of raw rubber has fallen by 9 million metric tonnes for the period from January 2011 to November 2011 compared to the corresponding figures of 2010, according to figures released by the Export Development Board. However, a senior official of a rubber exporting firm said that local rubber exporters have benefited due to this as the cost of domestic manufacturing had reduced thus making value-added rubber products more affordable for the international markets.
“Raw rubber and rubber products are exported seldom with the present situation in the international market. However, if we can further reduce cost of production we will be able to reduce the prices for the international market,” the official said on the condition of anonymity.
However, he says that that the recent auction prices of all types of raw rubber have increased by nearly Rs. 100-Rs. 150 including for those that were not bought at previous auctions.
“The auction held last week on February 16 recorded prices at an average of Rs.300 per kg, and some weren’t sold at all, but this week’s first auction date recorded massive price increases on all raw material prices and all raw rubber that weren’t sold last week was sold at around Rs.300 per kg this week. These changes that occur every week places us in a very unstable situation,” he said.
He also said that rubber exports aren’t based on yearly figures, as it is very hard to find export figures that are reliable. However, according to the SLAMERP reports there have been certain improvements in the industry.
“Presently, total production had increased by 5m metric tons and export values have been improved by USD 54m due to the price increase in rubber during the year 2011. During the year 2010 export value was around USD 154m,” he said.
http://www.nation.lk/edition/biz-news/item/3147-raw-rubber-export-slide-benefit-exporters.html
(ldtn)
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| Raw rubber export-slide benefit exporters |
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