Sri Lanka’s rubber export revenue rose 7 percent year-on-year (YoY) to US$11.67 billion in the 11 months to November 2024, driven by increased revenue from rubber products, Forbes and Walker Commodity Brokers said in its latest rubber report.
Despite showing growth in overall earnings, exports of pneumatic and retreaded rubber tires and tubes fell by 1.96 percent to USD 77.2 million in November due to a significant decline (-22.95%) in November.
During the January-November period, exports of rubber and rubber products increased by 8.25 percent to US$ 920.81 million. This was due to the increase of 21.74 percent in rubber industrial and surgical gloves.
Domestically, rubber prices saw a decline in various grades. Latex crepe 1X, No. 1s, No. 2s, No. 3s and No. 4s all experienced price reductions. Scrap crepe prices also fell with significant declines in 1X Brown, 3X Brown and 4X Brown. The average price of RSS1 for the month is Rs. 760, which compared to November 2023 was Rs. Reflects a decrease of 42/50.
The Association of Natural Rubber Producing Countries reported that global natural rubber (NR) production reached 12.7 million tonnes by November 2024, an increase of 2.4 percent year-on-year. During the same period, global natural rubber demand increased by 0.5 percent to 13.9 million tons.
