The Colombo Rubber Traders’ Association (CRTA) with the approval of the government and Health and Indigenous Medical Services Ministry commenced its weekly auctions beginning with one auction per week at the Ceylon Chamber of Commerce on April 9 at 2.00 p.m.
The last rubber auction took place on March 13, 2020 and the next auction scheduled for March 17 did not take place due to the government-imposed curfew.
Approval to conduct the weekly rubber auctions were granted subsequent to a discussion the industry representatives had with Presidential Taskforce Chairman Basil Rajapaksa on April 4 with a view to revive the industry, and support all stakeholders amidst the prevailing situation in the face of COVID -19 pandemic.
The brokers, traders and buyers of rubber were requested by the CRTA to strictly adhere to the guidelines on COVID-19 preparedness for workplace (rubber auction) specified by the Health and Indigenous Medical Services Ministry during grading of rubber samples and the auction process.
The Plantation Industries and Export Agriculture Ministry facilitated this initiative by requesting the respective authorities to assist the rubber sector and its supply chain to allow commencement of work and obtain curfew passes without disturbances.
The quantities on offer at the auction were Latex / Skim / Scrap Crepe – 298,650 Kg and RSS – 26,971 Kg excluding re-prints from the last auction held on March 13.
The highest price paid for Latex Crepe 1X amounted to Rs.350 per Kg. RSS grades remained unquoted.
The Colombo Rubber Traders’ Association wishes to continue the auctions with one sale per week and will resume two sales per week once the situation in the country
returns to normalcy.