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Sri Lanka plantation industry sources say that the price of rubber has recovered after a temporary slump.
Analysts said the slump was due to the setback in vehicle manufacturing industry in Japan following the tsunami. However, the prices have recovered after the major manufacturers of vehicles resumed production. It looks set to stay strong on rising global tyre demand, reported Sri Lanka's Independent Television Network (ITN).
Natural rubber prices at the Colombo auctions had hit record highs in February and then slumped sharply as the increased supply from key East Asian producing nations added to the fears of disruption in automobile manufacture following Japan's disaster.
Analysts said the slump was due to the setback in vehicle manufacturing industry in Japan following the tsunami. However, the prices have recovered after the major manufacturers of vehicles resumed production. It looks set to stay strong on rising global tyre demand, reported Sri Lanka's Independent Television Network (ITN).
Natural rubber prices at the Colombo auctions had hit record highs in February and then slumped sharply as the increased supply from key East Asian producing nations added to the fears of disruption in automobile manufacture following Japan's disaster.
Last edited by Quibit on Sun Mar 27, 2011 12:52 pm; edited 1 time in total (Reason for editing : format corrected as per forum guidelines)
