For the first time in history, the lots at the Colombo rubber auction went entirely unsold this week.
Plantation companies withdrew their quantities at this week’s rubber auction as prices significantly dipped, brokers said.
A total of 202,846 Kgs of rubber were on offer this week, all of which went unquoted.
“Appreciating of the Sri Lankan rupee has created an uncertainty amongst exporters. As a result several buyers kept away from bidding ,whilst some offered lower prices anticipating a further strengthening of the rupee,” Forbes & Walker Commodity Brokers Director Damitha Perera told Mirror Business yesterday.
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