The Colombo Rubber Traders’ Association (CRTA), with the approval of the Government and the Ministry of Health and Indigenous Medical Services, recommenced its weekly auctions beginning with one auction per week at the Ceylon Chamber of Commerce on April 9.
The last rubber auction took place on March13 and the auction scheduled for March 17 did not take place due to the curfew.
Approval to conduct the weekly rubber auctions were granted following discussion the industry representatives had with Presidential Task Force Chairman Basil Rajapaksa on April 4.
Brokers, traders and buyers were requested by the CRTA, to strictly adhere to the guidelines on COVID-19 preparedness for the workplace (rubber auction) specified by the Ministry of Health during grading of rubber samples and the auction process.
The Ministry of Plantation Industries and Export Agriculture 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 April 9 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.
Highest price paid for Latex Crepe 1X was 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 when the prevailing situation returns to normalcy.