Global players visit Colombo Rubber Auction

Friday, 31 October 2014 01:11 - - {{hitsCtrl.values.hits}}

Over 50 overseas delegates who took part in the just-concluded ‘Global Rubber Conference’ visited the Colombo Rubber Auction, which is conducted at the Ceylon Chamber of Commerce. The delegates from over 25 countries visited the auction and they included government officials, commodity and investment analysts, rubber buyers and also sector related service suppliers. The delegates were from countries such as Malaysia, Thailand, Indonesia, Philippine, Singapore, UK, Germany, Japan and Korea. The century-old Colombo Rubber Auction is the only rubber auction in the world and was commenced in 1910. It currently sells around 10 million kilograms of rubber per annum, with the participation of buyers (exporters) and brokers.

The Colombo Rubber Auction is administered and managed in consultation by the Colombo Rubber Traders’ Association and it is conducted under the Ceylon Chamber of Commerce by-laws and conditions of sale. The auction takes place every week on Tuesdays and Wednesdays.