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Export earnings from rubber and rubber products grow by 7.1% YoY

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Export earnings from rubber and rubber finished products have reported a growth of 7.1%YoY to USD 102.3Mn in Jun 2022 compared to USD 95.5Mn in Jun 2021, while earnings from pneumatic and retreated rubber tyres and tubes also increased by 15.2%YoY during the month, a review issued by First Research states.

Growth in export earnings was mainly attributable to the continuous rise in rubber auction prices, it states.

The review further states:

“Rubber auction prices continued to elevate during the month of Jun 2022 boosting the earnings growth for the period. Global rubber prices witnessed a plunge during the period yet displayed an increase of 4.9% on a YoY basis on the back of recessionary fears. Accordingly, the monthly local average auction price of rubber for Jun 2022 improved to LKR 1,400/Kg (+122.4%YoY) while YTD price increased by over 100% owing to the steep depreciation of LKR against USD by 80.0%YTD.”

“Although steady demand for all grades of rubber (RSS, Latex crepe and synthetic) was witnessed in Jun 2022, total production hampered to 5.2Mn Kg from 7.2Mn Kg (-27.8%YoY) amidst wet weather conditions that disrupted rubber tapping along with delays in transportation due to the prevailing fuel crisis. Meanwhile, rubber earnings for the 1H2022 reported a slight decline of 0.7%YoY to USD 516.6Mn, although total production dropped by 15.6%YoY during the period amidst the outbreak of the fungal leaf fall disease. Major export markets for Sri Lankan natural rubber are Pakistan, Germany and Japan, whereas US, Germany and Belgium are the key export markets for rubber finished products.”

“Rubber prices have witnessed a growth trend since the beginning of the year, yet it has adjusted downward in the recent auctions in line with the global market price trend while cropping season has started in most of the rubber-producing regions leading the rubber price to drop. Further, the fluctuations in crude oil prices, which influence synthetic rubber prices, have also impacted the prices of natural rubber. On the other hand, with the availability of chemical fertilizer improving in the forthcoming months, we expect plantation sector to command higher yields in 2H2022 while further discussions have started with World Bank, Asia Developments and other international financial institutions to obtain funds to import fertilizer. In addition to that, we may see global consumption of rubber gloves peak over pre-pandemic level supported by increased awareness of health care and hygiene among people which ensures demand for rubber to boost in 2H2022. Considering the stability in production volume and the current price which remains above 2021 level, we expect rubber plantation to see an upside in 2H2022,” First Capital review states.



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Business

Ceylinco Life agent among three global finalists for award

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Ceylinco Life’s Ambalantota branch agent AIP Manjula

Ceylinco Life’s Ambalantota branch agent AIP Manjula has been named one of three global finalists for the prestigious Insurance Agent of the Year award at the 11th Asia Trusted Life Agents & Advisers Awards (ATLAA) 2026.

The recognition places a Sri Lankan insurance professional among the finalists in a regional field spanning South Asia, Southeast Asia, East Asia and the wider Asia-Pacific region.

Ceylinco Life said the achievement reflected the calibre and customer-focused approach of its agency force, while recognising Manjula’s professionalism and commitment to policyholders.

The award evaluates insurance agents on criteria extending beyond sales performance, including ethical conduct, client service, policy persistency, digital adoption, innovative practices and contributions to the insurance industry and community.

The awards are organised by Asia Advisers Network and Asia Insurance Review, with LIMRA as co-organiser. An independent judging and balloting process is monitored by KPMG as the official scrutineer. The judging panel comprises senior insurance executives, association presidents and industry experts from across the Asia-Pacific region.

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CEAT Kelani retains AA+ rating for sixth year

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CEAT Kelani Holdings (CKH) has retained its National Long-Term Rating of ‘AA+(lka)’ with a Stable Outlook from Fitch Ratings for the sixth consecutive year, reflecting the company’s financial resilience and leading position in Sri Lanka’s pneumatic tyre market.

The ‘AA+(lka)’ rating, the second-highest on Fitch’s national scale, indicates a very strong capacity to meet financial commitments.

Fitch said CKH’s established market leadership and resilient financial profile remained key strengths, while noting its exposure to price-sensitive, cyclical and highly competitive markets.

The Stable Outlook reflects expectations that the company will maintain its market position despite rising input costs and increasing competition from imported tyres, while preserving adequate credit metrics during periods of weaker earnings and higher investment.

Fitch expects CKH’s established brand, extensive dealer network and adaptive pricing strategies to support its market position. Planned production facility upgrades are also expected to improve product quality, particularly in the radial tyre segment.

The rating agency expects near-term pressure on margins from higher raw material and energy costs but said the company’s low leverage and sound liquidity would provide a cushion.

CKH Chairman Chanaka De Silva said the rating reinforced the company’s focus on disciplined financial management, operational adaptability and long-term investment.

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SLT-MOBITEL Enterprise launches Premium Cloud

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Riyaaz Rasheed, CEO, SLT-MOBITEL, and Faiz Shakir, VP Sales – Nutanix, Southern Asia, unveil SLT-MOBITEL Enterprise Premium Cloud Powered by Nutanix to support enterprise digital transformation

SLT-MOBITEL Enterprise, the enterprise services arm of Sri Lanka Telecom PLC, has launched its Premium Cloud service powered by Nutanix, aimed at helping Sri Lankan businesses modernise their IT infrastructure and accelerate digital transformation.

The service was unveiled at the Lanka Tech Summit 2026 held recently at ITC Ratnadipa, Colombo.

The Premium Cloud combines hybrid multi-cloud capabilities with enterprise-grade performance, enabling businesses to run mission-critical workloads, scale cloud deployments and strengthen business continuity through disaster recovery capabilities.

Hosted on SLT-MOBITEL’s Tier III data centre infrastructure, the platform is designed to provide enhanced security, reliability and flexibility while supporting the growing technology requirements of enterprises.

SLT-MOBITEL Enterprise said the platform would also support organisations seeking to adopt AI-ready capabilities and improve the management and performance of IT workloads.

A key feature of the launch was SLT-MOBITEL Enterprise joining the Nutanix Elevate Service Provider Program (NESPP), which the company said made it the first service provider in the region to join the programme.

Powered by Nutanix’s hybrid multicloud platform, the service enables application and data mobility across on-premises environments, public clouds and edge locations.

The company said the partnership combined Nutanix’s cloud technology with SLT-MOBITEL’s local expertise and support, strengthening its multi-cloud portfolio.

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