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The Colombo Rubber Traders’ Association Annual Report & Accounts 2013/2014

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COMMITTEE – 2013/2014

CHAIRMAN

Mr. M. S. Rahim A. M. Rahim & Co (Pvt) Ltd.

VICE CHAIRMAN

Mr. S. S. Poholiyadde Kegalle Plantations PLC

Buyer Representatives

Almar Trading Company A. M. Rahim & Co. Ltd.

C. W. Mackie PLC Eastern Merchants PLC

Rajapakse Trading (Pvt) Ltd Richard Pieris & Co. PLC

Seller Representatives

Balangoda Plantations PLC Elpitiya Plantations PLC

Kahawatte Plantations PLC Kegalle Plantations PLC

Kelani Valley Plantations PLC Kotagala Plantations PLC

BROKER REPRESENTATIVE

John Keells PLC

BY INVITATION

The Planters‟ Association of Ceylon The Colombo Rubber Buyers‟ Association

Mr. Nalin Silva - C.W. Mackie PLC Non - CBA Broker – J. D. and Sons (Pvt) Ltd

SECRETARIAT

The Ceylon Chamber of Commerce


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SUB COMMITTEES - 2013/2014

MEMBERSHIP & DISCIPLINE

Mr. W.T Ellawala (Convener)

Mr. H. de Silva Mr. M.S Rahim Mr. R.C Peiris

Mr. S Meegama Mr. R. Jansz

WAREHOUSE

Mr.A.Edirisinghe (Convener)

Mr. S.A Eriyagama

Mr. K.M.N.P. Bandara Mr. Ranil Fernando Mr. Richard Jansz Mr. S.H Shaheed

BY LAWS & CONSTITUTION

Mr. S. Poholiyadde (Convener)

Mr. Lalith Obeyesekere Mr. S. H. Saheed Mr. Harin de Silva Mr. M. S. Rahim Mr. S. Eriyagama

FREIGHT & SHIPPING

Mr. A. Edirisinghe (Convener)

Mr. S. H. Saheed

Mr. K.M.N.P. Bandara Mr. Nalin Silva

REGULATORY REFORMS

Mr. W. T. Ellawala (Convener)

Mr. S Meegama Mr. M. S. Rahim Mr. R Fernando

Mr. S. Poholiyadde Mr. Richard Jansz


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REPRESENTATION ON OTHER BODIES

THE CEYLON CHAMBER OF COMMERCE

Mr. M.S Rahim and Mr. S. Poholiyadde were nominated to serve on the Committee of the Ceylon Chamber of Commerce from April to November 2013, as the CRTA representative and Alternate, respectively. Mr. Sunil Poholiyadde and Mr. Anura Edirisinghe were nominated to serve on the Committee of the Ceylon Chamber of Commerce from November 2013 to April 2014 as the CRTA representative and Alternate, respectively.

SRI LANKA SHIPPERS’ COUNCIL

Mr. N. Silva of C.W. Mackie and Mr.Talal Shums of Shums & Company Ltd were nominated to represent CRTA in the year 2013/14.

EXPORTERS’ ASSOCIATION OF SRI LANKA

Mr. H. de Silva of Eastern Merchants PLC and Mr. Talal Shums of Shums & Company Ltd were nominated to represent the Association on the EASL Committee for the year 2013/2014.

SRI LANKA SOCIETY FOR RUBBER INDUSTRY

Mr. A. Edirisinghe was nominated to represent the CRTA on the Board of the Sri Lanka Society for Rubber Industry from April 2013 to November 2013. Mr. Masiri Dias was nominated to represent the CRTA on the Board of the Sri Lanka Society for Rubber Industry from November 2013 to April 2014.


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MEMBERS

Buyer Members ALMAR TRADING CO. (PTE) LTD 143/17, Sri Wickrama Mawatha, Colombo 15 Tel : 5340440 Fax : 5344100 ALI BROTHERS (PVT) LTD. 228, Layards Broadway, Colombo 14 Tel : 2330207 – 8 Fax : 2541104 ASSOCIATED MOTORWAYS LTD 185, Union Place, Colombo 2 Tel : 2309309 Fax : 2323781 ASSOCIATED SPECIALTY RUBBER (PVT) LTD Yatideriya Rubber Factory Undungoda. 71200 Tel : 035-2278812 Fax : 035-2278811 A. M. RAHIM & CO. LIMITED 64, W. A. D. Ramanayake Mawatha., Colombo 2 Tel : 2320421/2333625/2445856 Fax : 2448345 AROMA NATURAL RUBBER [PVT] LTD Keraminiya Watta, Mawanella. Tel : 035-2248050 Fax : 035-2246648

CEAT- KELANI INTERNATIONAL TYRES Co (PVT) LTD P. O. BOX 53, Nungamugoda, Kelaniya. Tel : 2911305/2911241/2911269 Fax : 4817721/2911453 CEYLON TRADING CO. LTD 36, D. R. Wijewardena Mawatha, Colombo 10 Tel : 2327336/9 /2328904/2325665 Fax : 2449586


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C. W. MACKIE PLC 36, D. R. Wijewardena Mawatha, Colombo 10 Tel : 2440229/2423554-63 Fax : 2440228 EASTERN MERCHANTS PLC 341, Union Place, Colombo 2 Tel : 2325736/2328406 Fax : 2448474 FAGA TYRES (PVT) LTD No. 02, Udugalla Estate, Paragasthota, Bandaragama Tel : 077 3873 601/ 034 4298 561/ 0 11 2620 603 Fax : 011 2620 603 GLENROSS RUBBER COMPANY B/2, Elvitigala Flats, Elvitigala Mw., Colombo 8 Tel : 2699607 Fax : 2866765 GLOBAL RUBBER INDUSTRIES (PVT) LTD 65/3, D.S Fonseka Road, Colombo 05. Tel : 2555484/2598831 Fax : 2551091 HAMEED BROTHERS COLOMBO (PVT) LTD 377, Grandpass Road, Colombo 14 Tel : 2320832/2324447/2345934-5 Fax : 2335617 JAFFERJEE BROTHERS 150, St. Joseph‟s Street, P O Box 1180, Grandpass Colombo 14 Tel : 2432051/ 2434041 Fax : 2446085 K. R. V. ENTERPRISES 4, Keththarama Mawatha, Grandpass Road, Colombo 14 Tel /Fax : 0722123124/4936826

LANKA PRODUCE TRADERS 636/B/2, Malwatta, Malwana Tel : 0112570076/0777488829 LE-FERNE LABORATORIES (PVT) LTD. 255/3, Highlevel Road, Colombo 5 Tel : 4203328/4203329 Fax : 2813862


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LOADSTAR (PVT) LTD Regents Court, 218, Minuwangoda Road Ekala, Ja-Ela Tel : 4837659 Fax : 2232828 LALAN RUBBER (PVT) LTD 18, Nawala Road, Nugegoda. Tel : 4311200/4311241 Fax : 2820579/2311222 MALWATTE TRADERS 22, Babapulle Place, Off Grand Pass Road, Colombo 14 Tel : 2439451 MICROCELLS LTD Koskanatte Road, Mampe, Piliyandala Tel : 2708908 Fax : 2708917 OREX TRADING COMPANY No. 107, Biyagama Road, Kelaniya Tel : 2911566/2911236 Fax : 2911566 P. R. & SONS No. 17, Dawalasinghharama Mawatha Colombo 15 Tel : 2546168 POLYDEX (PVT) LTD 69, Jayalath Building, 3rd Floor New Kelani Bridge Road, Orugodawatte Wellampitiya Tel : 2437575/5222111 Fax : 2448223 RAJAPAKSE TRADING (PVT) LTD. 287, Grandpass Road, Colombo 14 Tel : 2433015/2343624 Fax : 2445023 RICHARD PEIRIS & COMPANY PLC 310, High Level Road Nawinna, Maharagama Tel : 4304028/2852644 Fax : 2856787 SHUMS & CO LTD 33A, Queens Road, Colombo 3 Tel : 2580027/2580170/2588470 Fax : 2503619/2503440


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Seller Members AGALAWATTE PLANTATIONS PLC 10, Gnanartha Pradeepa Mawatha, Colombo 8 Tel : 2679598-9/2678390 Fax : 2694833 BALANGODA PLANTATIONS PLC P.O.Box No. 6, Palmgarden Ratnapura Tel: : 045 2231445/7 Fax : 045 2223598 ELLAWALA RUBBER (PVT) LTD 14, Carlwil Place, Colombo 03. Tel : 2575756 Fax : 2573098 ELPITIYA PLANTATIONS PLC 73/3, Ward Place, Colombo 07 Tel : 5335572-74 Fax : 5335573 HAPUGASTENNE PLANTATIONS PLC 186, Vauxhall Street Colombo 2 Tel : 045 2222717/ 2222319 Fax : 045 2222717 HORANA PLANTATIONS PLC 8, Sir Chittampalam A. Gardiner Mawatha, Colombo 02. Tel : 2437431-2 Fax : 2447140

KAHAWATTE PLANTATIONS PLC 52, Maligawatte Road, Colombo 10 Tel : 4723937 Fax : 4722495 KEGALLE PLANTATIONS PLC 310, High Level Road, Nawinna, Maharagama. Tel : 4310823 / 4310799 Fax : 4310799 KELANI VALLEY PLANTATIONS PLC 400, Deans Road, Colombo 10 Tel : 2686274-5/2627700 Fax : 2694216


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KOTAGALA PLANTATIONS PLC 53 1/1, Sir Baron Jayathileke Mawatha Colombo 1 Tel : 2381508-10 Fax : 2381513 MALWATTE VALLEY PLANTATIONS PLC 280, Dam Street, Colombo 12 Tel: 5388800 Fax: 2543937 NAMUNUKULA PLANTATIONS PLC 310, High Level Road Nawinna, Maharagama. Tel : 4310801, 4310500 Fax : 4306726 PUSSELLAWA PLANTATIONS LTD. No. 168, Negambo Road Peliyagoda Tel : 7990000 / 7990007 Fax : 7990063 WATAWALA PLANTATIONS PLC No. 60, Dharmapala Mawatha, Colombo 03 Tel :4702400 Fax :4716365

Broker Members

COMMODITY CONSULARS (PVT) LTD 49/4, Sir Chiththampalam A Gardiner Mawatha, Colombo 2 Tel : 0777 700 999 Fax : 5665429 FORBES & WALKER COMMODITY BROKERS (PVT) LTD 46/38, Navam Mawatha, Colombo 2 Tel : 2433720/43 Fax : 2437147 H. W. J. DIAS & BROS (PVT) LTD. 40/5, Dharamapala Place, Rajagiriya. Tel : 0716912162 J. D. & SONS (PRIVATE) LTD. 64, W.A.D Ramanayake Mw, Colombo 02 Tel : 2331739/ 2331749 Fax :2331729


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JOHN KEELLS PLC 186, Vauxhall Street, Colombo 2. Tel : 2306551 Fax : 2326121 LANKA COMMODITY BROKERS LTD No. 97 Ananda Rajakaruna Mawatha Colombo 10 Tel : 5377080-3 Fax : 5377090 M. Z. M. MOHIDEEN & SONS 16/4-1/1, Waidya Road, Dehiwela Tel : 0777-316415 & 0777-359259 Fax : 2719802 RANSRI ENTERPRISES (PVT) LTD. 199/96, Obeysekera Crescent, Rajagiriya Road, Rajagiriya. Tel : 5653261 Fax : 4335061 SIYAKA PRODUCE BROKERS (PVT) LTD. 120/15, Vidya Mawatha, Colombo 07 Tel : 4939438 Fax : 2678145


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AN OVERVIEW OF THE INDUSTRY

NATURAL RUBBER PRODUCTION

Total rubber production declined by 14.23 percent to 130.42 Million Kgs during the year 2013 compared to the year 2012. The decline in total rubber production was largely due to adverse weather conditions which prevailed right through this period reducing the number of tapping days. The relatively low producer prices also contributed to some extent to the lower levels of production of smallholders. During 2013, sheet rubber production improved by 6 per cent to 62.8 Million Kgs and crepe rubber declined by 49.18 per cent to 20.19 Million Kgs.

TABLE 1

SRI LANKAN RUBBER PRODUCTION 2009 - 2013 (Mn. Kgs.)

CATEGORY TOTAL

2009 2010 2011

2012 2013 % SHARE OF

TOTAL 2013

Sheet Rubber 54.55 59.25 60.69 59.24 62.8 48.15

Crepe Rubber 40.62 61.05 64.65 39.73 20.19 15.48

TSR 11.78 8.34 7.98 8.67 9.57 7.34

Others 29.93 24.34 24.87 44.4 37.86 29.03

Total 136.88 152.98 158.19 152.04 130.42 100%

Source: Rubber Development Department

Having accounted for the major share of the country‟s total production in 2012 and 2013, crepe rubber slumped from 26 percent in 2012 to 15 percent in 2013. Sheet rubber increased its share from 39 percent in 2012 to 48 percent in 2013, whilst “Others”, comprising mainly centrifuged latex, maintained its share at around 29 percent share of the total production in 2013.


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TABLE 2

NATURAL RUBBER PRODUCTION 2007-2013

(Mn Kgs)

Year

Sheet

Rubber

Sole Crepe

Scrap Crepe

Latex Crepe

TSR Latex & Other

Total

2007 48.8 4.1 1.8 21.8 9.5 31.5 117.5

2008 55.1 3.9 2.7 21.0 10.9 35.6 129.2

2009 54.6 5.4 3.5 31.7 11.8 29.9 136.9

2010 59.2 6.7 1.8 52.5 8.3 24.3 152.8

2011 60.7 3.4 1.3 60 8 24.6 158

2011 60.7 3.4 1.3 60 8 24.6 158

2012 59.2 1.9 1.3 36.6 8.7 44.4 152.0

2013 62.8 2.4 2.4 15.4 9.6 37.9 130.4


COST OF PRODUCTION

The Plantation Workers‟ Collective Agreement, which will be effective from April 1, 2013, was unprecedentedly negotiated and formalized following comparatively brief deliberations, without the usual disruptions at estate level. Cost of production is estimated to increase by Rs.23/- per kg on account of this wage revision. The daily wage package was increased by 20 percent, from Rs.515/- to Rs.620/-. Of the three main components that comprise this wage package, adjustments were made to two, and the other remained unchanged.

The daily Basic Wage was increased from Rs.380/- to Rs. 450/- and the daily Attendance Incentive from Rs.105/- to Rs.140/-.

The Fixed Price Share Supplement of Rs.30/- remained unchanged.

The “over kilo” rate was enhanced from Rs.25/- to Rs.30/-. Certain Regional Plantation Companies which expressed difficulties in conforming to the new wage agreement, due to its cost impact, gave their consent to its implementation on the expectation that the workers and Trade Unions would support the companies in their quest to increase productivity.


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THE MONARAGALA RUBBER DEVELOPMENT PROJECT

International Fund for Agricultural Development (IFAD), a specialized agency of the United Nations, facilitated the cultivation of 5,100 hectares under the Smallholder Plantation Entrepreneurship Development Programme, within the Monaragala Rubber Development Project. This took the form of an allocation of US.$.23 million, in November 2007, which was disbursed, subject to the condition that the initiative would be completed within a time frame of seven years. The primary objective was to improve and develop impoverished farmers in that district, who were prepared to undertake rubber cultivation. The programme is administered by the National Policy, Planning and Coordination Unit (PPCU) in Colombo, whilst the Mid-country Sub-Programme Management Units (S-PMU) in Gampola and Monaragala facilitate the implementation. Some facets of the programme are as follows:

Rs. 44 million as rubber planting subsidies for beneficiaries in Monaragala District and Rs.1million for 20 matching grants for self-employment and livelihood development activities have been paid and necessary actions are in progress to pay Rs.47mn during 2013.

Ministry of Plantation Industry is target to Construct 10 small scale rubber latex processing centres for the benefit of rubber smallholders in Monaragala District.

Presently, the 5,000 hectares rubber cultivation had been satisfactorily concluded. Source: Ministry of Plantation Industries – Progress report 2013

DOMESTIC CONSUMPTION

Domestic rubber consumption also declined to 107.25 thousand tons from 110.03 thousand tons during the year 2013 reflecting the contraction in industrial production partly due to falling export demand as well as the lack of availability of quality latex rubber.

TABLE 3

DOMESTIC CONSUMPTION OF NATURAL RUBBER 2009-2013

(IN THOUSAND TONS)

Category Total 2009

2010 2011 2012 2013

Dry Rubber 48.82 60.63 62.43 60.41 59.57

Latex 37.29 46.59 49.29 49.62 47.68

Total 86.11 107.22 111.72 110.03 107.25



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CULTIVATION

Rubber was cultivated in 214,000 hectares in Sri Lanka in the 1970s but it has dropped to 132,000 hectares now. According to RRI the production is likely to drop further in future. The main reason behind the decline is cultivators shifting to other more profitable crops because of unstable price of rubber. While the rubber production and area under cultivation has dropped, the demand for rubber is expected to go up to 200, 000 MT by 2016. Sri Lanka is unable to meet even the current demand of 175,000 MT.

In the year 2012, the rubber plantation had expanded in 130,780 hectares of which 81,345 hectares (62%) were owned by the rubber small holder sector. Further, 47,844 hectares (37%) were owned by 20 Regional Plantation Companies and 1,591 hectares (1%) were owned by the government institutions. The estimated extent of rubber lands in year 2013 is 136,200 hectares due to the rubber new planting in traditional and non-traditional areas. 107,870 hectares of this total extent of lands mature (tapping) rubber lands and 28,330 hectares are immature rubber lands. Since the reluctance to cultivate rubber has reduced at present, Ministry of Plantation Industries has projected that the total extent of rubber lands will be expanded to 143,000 hectares in year 2014. The Rubber Development Department [RDD] of the Ministry of Plantation Industries continues to disseminate technology to the smallholders and extend technological assistance to that sector to develop rubber cultivation. It is also responsible for the collection, analysis, collating and dissemination of information to the entire rubber industry. Subsidies determined by the Ministry of Plantation Industries are disbursed and regulated by the RDD. Currently, subsidies for re-planting and new planting qualify for Rs.175,000/- and Rs.150,000/- per hectare, respectively, while the actual cost of replanting is in the region of Rs.820,000/- per hectare. Both the Corporate Sector and the smallholders are beneficiaries of this subsidy, disbursed in eight installments, during the immature period.

Source: Ministry of Plantation Industries – Progress report 2013

EXPORTS

The decline in production took its toll on exports, with the volume of domestic consumption declining by 2.5%. Following the trend of the previous two years, export volumes continued to diminish and recorded a further 36.9 percent decline in 2013. The waning demand from the major tyre manufacturing markets in East Asia, due to the global downturn in the Motor Vehicle Industry, improved production in other rubber producing countries and the swelling of carryover stocks in the international market, also had a bearing on the lower export volumes, as well as prices. Exports of sheet rubber declined by 58.68 percent.


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TABLE 4

EXPORTS OF RUBBER – 2009 - 2013 (IN THOUSAND TONS)

Year

Sheet Rubber

Sole Crepe

Scrap Crepe

Latex Crepe

TSR

Latex & Other

Total

2009 24.40 2.11 0.22 13.68 6.54 9.03 55.99

2010 20.90 2.15 0.07 18.47 2.84 7.05 51.49

2011 13.56 2.47 - 20.90 3.66 2.01 41.62

2012 11.06 1.49 - 17.65 4.58 2.6 37.38

2013 4.57 2.02 0.02 13.17 2.4 1.4 23.58


The Export Prices of Rubber in 2009 - 2013 are shown in Table 5.

TABLE 5

RUBBER EXPORT PRICES 2009-2013 (Rs./ Kg)

YEAR RSS CREPE OTHER TOTAL

2009 199.29 213.36 195.58 202.30

2010 372.56 386.78 368.15 377.53

2011 511.47 549.48 534.65 535.39

2012 429.16 423.71 399.06 420.74

2013 (a) 366.79 400.72 374.17 389.81 Source: Central Bank of Sri Lanka

(a) Provisional

The declining trend in rubber prices which started from the beginning of 2012 continued during the first half of 2013/14 as well. Improvements in supply from major producing nations leading to increased stockpiles, together with a decline in demand from countries like China, due to a slowdown in growth in major export markets such as the Euro region have contributed to the decline in international rubber prices. Export prices recorded an overall decline of 7.35 percent. During this period, the export price of RSS and crepe declined by 14.53 per cent to Rs. 366.79 per kg and 5.43 per cent to Rs.400.72 per kg, respectively.


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TABLE 6

EXPORTS OF NATURAL RUBBER FROM SRI LANKA FOR 2013

(Kgs)

2013

CREPE RUBBER

Sole Crepe

Vietna 983,750

South Africa 614,819

Hong Kong 47,687

Bangladesh 39,659

USA 14,918

Other 321,629

Total 2,022,462

Latex Crepe

Malaysia 4,310,300

Japan 1,638,000

Italy 879,500

Germany 933,695

Other 5,409,116

Total 13,170,611

Scrap Crepe

Malaysia 17,000

Other -

Total 17,000

SHEET RUBBER

RSS

India 1,446,900

Pakistan 1,958,660

Germany 463,680

U.S.A 351,540

Malaysia 174,000

Other 179,521

Total 4,574,301

LATEX & OTHER

1,405,228

TSR

2,396,517

GRAND TOTAL

23,586,119



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NATURAL RUBBER PRICES

The Colombo Market Prices of Rubber in 2009 - 2013 are shown in Table 7.

TABLE 7

COLOMBO MARKET PRICES 2009-2013 (Rs./Kgs)

YEAR

RSS

LATEX CREPE

SCRAP CREPE

NO. 1 X BR

NO. 1 NO.2 IX NO. 1

2009 211.65 206.74 217.15 212.51 186.31

2010 403.02 395.51 457.68 452.65 358.95

2011 508.80 505.76 574.93 566.60 462.24

2012 416.47 409.56 410.84 405.00 376.57

2013 (a) 376.90 369.21 397.28 389.69 309.23

(a) Provisional Source: Central Bank of Sri Lanka

The declining trend in rubber prices which started from the beginning of 2012 continued during the year 2013 as well. The price at the Colombo Rubber Auction (CRA) followed the trend in global markets. The cost of production continues to escalate and is bound to move up further in the ensuing year, on account of the increase in the wage package and electricity rates. With the declining prices, this will seriously impact the viability of the Producers. The Replanting Subsidy Scheme does not provide sufficient incentive to the growers. It is hoped that, with the opening of new planting areas, production and yields, the figures of which are perceived to be overstated, could be expected to reverse their downward trend.

TABLE 8

STATISTICAL OVERVIEW OF THE RUBBER INDUSTRY

2011-2013

ITEM UNIT 2011 2012 (a) 2013 (b)

Production Kg mn 158.2 152.0 130.4

Total extent (f) Hectares „000 129 131 132

Area under tapping (f) Hectares „000 101 104 107

Yield kg./ hectare 1,566 1,459 1,219

Cost of Production (g) Rs./kg. 129.56 136 150

Average price

Colombo Auction (RSS1) Rs./kg. 508.8 416.47 376.9

Export (fob) Rs./kg. 535.40 420.74 389.81

Replanting (h) Hectares 3,050 2,161 1,782

New planting (h) Hectares 3,004 2,449 1,574

Source: Central Bank of Sri Lanka (a) Revised (b) Provisional (f) Extent under rubber is based on the Census of Agriculture conducted by the Department of Census & Statistics in 2002 (g) Cost of production revised in 2002 based on a survey conducted by the Rubber Development Department in 2003. (h) Extents covered by cultivation assistance schemes of the Rubber Development Department.


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RUBBER REPLANTING SUBSIDY SCHEME

The subsidy granted presently by the government for rubber replanting and new planting as Rs. 175,000 and Rs. 150,000 per hectare respectively has been a root cause for the development in the rubber cultivation. There were no significant developments in regard to State assistance extended to the Rubber Industry.

GOVERNMENT INTERVENTION IN RUBBER CULTIVATION

A loan of Rs.25.5 million could be provided to 275 beneficiaries in terms of the Memorandum of Understanding to introduce a loan scheme on concessionary interest by the Thurusaviya Fund jointly with the Bank of Ceylon for entrepreneurship development of the rubber small holders in year 2013. Under “Divi Neguma” National Development Programme implemented by the Ministry of Economic Development, the rubber cultivation was introduced as a home garden programme in Hambantota, Moneragala, Ampara, Vavuniya and Mullaitivu Districts and the programme for distribution of 200,000 rubber plants at a cost of Rs.12 million free of charge was implemented.

Source: Ministry of Plantation Industries – Progress report 2013


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MARKET TRENDS & OUTLOOK MARKET TRENDS The Rubber Market for 2013, recovered with a moderate increase in prices during the cropping months of January and February, when prices of Latex crepe improved to reach the higher level of Rs.420/- per kilo with RSS1 following in line with crepe rubber prices. From March onward prices of all grades declined below the Rs.400/- mark, fluctuating within a range with a low of Rs.350/-to Rs.390/- up to the end of July. From September onwards there was demand for Latex crepes for which prices remained at Rs.400/- and remained stable within a in a price range ending Rs.425/- at the end of the year. Unlike the previous year, RSS1 did not follow the fortunes of latex crepe, commencing August prices dropped steadily from Rs.400/- to a low of Rs.330/- at the end of the year.


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Due to fluctuations in weather conditions total production of rubber in 2013 was 130,420 tons recording drop of 21,620 tons according to Statistics compiled by the Rubber Development Department. OUTLOOK Several Buyers trading in world markets have predicted that due to overheating in economies In most developed countries, there could be a potential slow-down in the Automobile Industry Worldwide. There are reports of increased production in the main producing countries, with Specific mention of Viet Nam‟s state run Companies also opening plantations in Laos and Cambodia. In 2015 it is forecast to hit nearly 1 million tons according to the International Rubber Study Group. Leading Producer Thailand and second largest Indonesia are anxiously watching the world supply situation. If supply and demand don‟t match then it will definitely weigh on prices, a Market down turn can be expected. With the drop in yields from the plantations and the rising costs of production, Sri Lanka‟s Growers will all have to face hard times in the near future. With the commodities boom showing signs of overheating, caused by the overall rapid development in Asia, with China and India being the major consumers of rubber, economies of all consumer countries began to show signs of slowdown. Sri Lanka‟s pride, its high quality Thick Crepe No. 1X, was the worst affected, as overseas demand declined and markets thinned out. The future of the rubber market looks gloomy. However, Producers continue to obtain prices that are profitable, even though the margins have contracted. Every effort must be made to grow more rubber and enhance production volumes for the future, by developing new areas suitable for growing rubber. There are vast expanses of such land in the country remaining unutilized, which are now more accessible, on account of infrastructure development. This has to be the way forward.


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ACTIVITIES OF THE ASSOCIATION

CESS on Rubber

With reference to Section 10.2 of the budget speech 2013, which states, “the CESS applicable on the export of tea, rubber, coconut, cinnamon and pepper in primary form will be further strengthened to channel such revenue to encourage value added exports made out of these primary products”. The Industry welcomes initiatives taken by the government to encourage value added exports. However, any further increase in CESS will adversely impact efforts taken to increase rubber cultivation and production. While the rubber production and area under cultivation has dropped, the demand for rubber is expected to go up to 200, 000 MT by 2016. Sri Lanka is unable to meet even the current demand of 175,000 MT. Therefore to sustain the growing rubber product sector, it is important to increase the rubber cultivation and production in the country. The industry could have absorbed the CESS and still pass on a fair price to farmers, when the price of rubber was high. However, any proposed increas of CESS at a time the rubber prices are coming down will adversely affect the profitability of rubber cultivators by reducing the price they receive. The industry would urge the government to remove the CESS imposed on special grades of natural rubber sold at high prices which in turn will benefit the export sector. Further value addition to these special grades is not possible in Sri Lanka because the existing domestic rubber product manufactures do not use these grades of natural rubber as inputs into their production. Therefore, the said objective of increasing CESS to encourage domestic value addition does not apply to these special grades of rubber. A concept paper on under the narration “further strengthening of the CESS on natural rubber will have a negative impact on both rubber cultivation and value addition” was submitted to Dr. P.B Jayasundara, Secretary to the Treasury, Hon. Mahinda Samarasinghe, Minister of Plantation Industries and Hon. Rishad Bathiudeen, Ministry of Industry and Commerce which conveyed the government to take into consideration “Removing CESS imposed on special grades of natural rubber sold at high prices that will benefit the export sector”, and “Removing CESS imposed on special grades of natural rubber sold at high prices will benefit the export sector” and reconsider further strengthening of the CESS on natural rubber exports and consider removing or reducing current CESS on special grades of natural rubber exported (e.g. TCP and Sole Crepe) which is not used by any of the local industries.

Rubber Cultivation

Rubber cultivation is the foundation of the value added rubber product industry. According to Sri Lanka Rubber Research Institute (RRI) Sri Lanka‟s rubber cultivation has seen a drastic decline over the last forty years. Rubber was cultivated in 214,000 hectares in Sri Lanka in the 1970s but it has dropped to 121,000 hectares now. According to RRI the production is likely to drop further in future. The main reasons behind the decline are cultivators shifting to other more profitable crops because of unstable price of rubber.

While the rubber production and area under cultivation has dropped, the demand for rubber is expected to go up to 200, 000 MT by 2016. Sri Lanka is unable to meet even the current demand of 175,000 MT. Therefore to sustain the growing rubber product sector, it is important to increase the rubber cultivation and production in the country. In this respect CRTA welcomes the efforts taken by the Government recently to expand the rubber


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production by expanding cultivation in non-traditional areas in the North and the East. A main strategy adopted is to encourage farmers to cultivate rubber and shift away from their traditional crops. However, this initiative will be successful only if the farmers find cultivating rubber to be profitable and the income to be stable. For the domestic Rubber Industry to prosper, it is imperative that emphasis is placed on identifying means by which to increase the total production of rubber. Supporting, particularly smallholder growers, with reasonable subsidies and the development of high yielding clones to be used in re-planting, is a high priority. Opening new rubber growing lands in the northern regions of the country will also help. Implementing measures to improve productivity, which will contribute to the increase in yields per hectare, is also essential. In these respects, Sri Lanka lags behind all other leading producer countries in the world. CRTA has conveyed to the government to take into consideration this issue on Rubber cultivation at many public forums.

Rubber Prices

With the decline in prices, to remain internationally competitive in the world market for natural rubber, the exporter is compelled to pay less to the farmer.

Average price of natural rubber exports

Source: Central Bank of Sri Lanka

Despite attempts to increase production, high cost, shortage of land and labour is already compelling plantation companies to either shift to other crops (e.g. palm oil). Exporters of rubber in bulk play an important role in the Industry by being largely responsible for the procurement of rubber sold by Licensed Broking Companies, on behalf of the Corporate Sector, through the Public Auction, managed by the Colombo Rubber Traders‟ Association and conducted at the offices of the Ceylon Chamber of Commerce. There are, of course, some Producers who have chosen to sell their rubber through other channels, directly to overseas Buyers. However, they use the prices realized at these auctions, which are published in the print media, as a bench mark. This is not a prudent policy since, without the benefit of the competition generated at the auction, more likely than not, they will be “under-selling” their product. This, in turn, will impact auction prices, as Exporters operating at the auction will not be able to compete with the lower prices being offered and will be compelled to drop their limits, resulting in a vicious cycle.


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The rubber cultivation is dominated by small holders who account for nearly 70% of total production. Given the shortage of large scale plots of land, the small holders will continue to dominate the production. Their individual bargaining power in price is low. Since these smallholders, individually, do not have ready access to facilities to transport their produce to Colombo, which, in any case, would be too costly on account of the small volumes produced by each of them that would not have the benefit of economies of scale, they are compelled to sell their produce at depressed prices to dealers. It is critical that these smallholder growers obtain the best possible prices for their rubber, in line with prices realized at the auction, to enable them to remain viable. The rubber traders help increase the bargaining power by increasing competition in the market for natural rubber; thereby help keep the rubber prices high which in turn ensure profitability of production. If the natural rubber exporters are taken out of the picture, the rubber cultivators will depend on few manufactures to buy their production. This will drive down the prices to the benefit of the manufactures and however, it will discourage small holders to engage in rubber cultivation due to low prices and resulting low profitability. It will benefit both the Producers/Sellers and the Exporters/Buyers if all the rubber produced is channelled through the auction system, compelling the Producers dabbling in exports and, even, the local manufacturers of products for the export and domestic markets, to procure their requirement at the auction. This would generate much greater competition for the products and secure optimum prices. Here too the CRTA has conveyed to the government to take into consideration this issue at many public forums.

6th Annual Conference of Association of Natural Rubber Producing Countries (ANRPC) – Colombo

The Association of Natural Rubber Producing Countries (ANRPC) held its 6thAnnual Rubber Conference in Colombo, Sri Lanka on 8th October 2013 hosted by the Government of Sri Lanka in collaboration with the Ministry of Plantation Industries. The one-day conference, with the theme “Sustainable NR Economy: Where Do We Stand?”, was unique in providing an international meeting point and an ideal platform for meaningful interactions and networking among rubber industry players, policy makers, researchers, and commodity analysts across countries. Sessions in the conference discussed on the outlook on global supply and demand of rubber, the sustainability development of natural rubber and opportunities and challenges faced in the rubber market. The one day Conference was held with the Annual Meetings of the ANRPC from 9-13th October.

In conjunction with the Conference and meetings, a field visit to Padukka Estate Rubber Factory, was organized. The conference had the participation of more than 119 representatives from Cambodia, China, India, Indonesia, Malaysia, Papua New Guinea, Philippines, Singapore, Sri Lanka, Thailand and Vietnam.

According to the Plantation Industries Ministry, the objective of the conference were to improve productivity, reduce cost of production, promote value added rubber


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products, and generate additional revenue sources related to the rubber sector, encourage economic friendly natural rubber products and enhance the sustainability of the natural rubber industry. Economic Development Minister Hon. Basil Rajapaksa, Deputy Minister of Plantation Industries Hon. Earl Gunasekara, Secretary of Plantation Industries Ms. Sudharma Karunaratne and Secretary General of ANRPC Dr. Kamarul Baharain bin Basir also participated at this occasion.

Exhibition stalls were displayed with the participation of CRTA, at “ANRPC” Conference Exhibition held at Hotel Galadari, on 8th October 2013 where exhibitors handed out brochures and displayed product samples of Sri Lankan Rubber.

Visit of Vietnam Rubber Association delegation

A 10-member rubber delegation from Vietnam arrived in Sri Lanka to meet with the CRTA on July 19, 2013, after a two-day visit in India, in an attempt to strengthen relationships and exchange knowledge on the industry. The delegation represented the Vietnam Rubber Association (VRA) which included VRA Chairman and Vietnam Rubber Group Chairman Mr.Tran Ngoc Thuan, VRA Secretary General Mr. Vo Hoang An, Rubber Research Institute of Vietnam Director Mr. Lai Van Lam, senior staff members of the Vietnam Rubber Association and Director Generals of several rubber related companies. The key objectives of the delegation were “to strengthen relationships and expand cooperation in Sri Lanka and natural rubber market information exchange, study activities and organizational structure of the Association, and the management of natural rubber exports of the Sri Lankan rubber industry.” In Sri Lanka, the delegation met the Colombo Rubber Traders‟ Association on July 19, 2013 at the Board Room of CCC for discussions and all the members of the CRTA were invited for the discussion. It was noted that like Sri Lanka, Vietnam is a rubber producing country, however, with cheaper prices. There are several Sri Lankan companies trading in Vietnam and certain manufacturers are known to even import rubber from Vietnam, which is cheaper than purchasing domestically. Vietnam has also entered markets that were previously held by Sri Lankan rubber companies such as Pakistan. Vietnam‟s rubber exports experienced a sharp fall in the first half of 2013, plunging by 19.2% in value and 5% in volume against the same period last year, as disclosed by the Vietnam Ministry of Industry and Trade. Until end-June, the country received US$ 976 million from exporting over 380,000 tons of rubber as a price slump took its toll on earnings. In June alone, 79,000 tonnes of rubber were shipped abroad from Vietnam, bringing in revenue of US$ 188 million. The average rubber export price was US$ 2.595 per ton, 15.2% lower from the rate last year. The delegation strengthened the relationship and extended cooperation between CRTA and VRA. Information on natural rubber market, study activities and organizational structure of the Association, and the management of natural rubber exports of the Sri Lankan rubber industry were discussed.


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ANNUAL GENERAL MEETING – 20012/2013

The 94th Annual General Meeting of the Colombo Rubber Traders‟ Association was held on July 05, 2013, at the Taj Samudra Hotel, Colombo. Dr. Koshy Mathai, Resident Representative in Sri Lanka & Maldives, International Monetary Fund (IMF), was the Chief Guest and delivered the Keynote Address. Dr. Gamini Senevirathne, the Director of Rubber Research Institute of Sri Lanka), was the Guest of Honour.

SRI LANKA SOCIETY FOR RUBBER INDUSTRY

Mr. A. Edirisinghe was nominated to represent the CRTA on the Board of the Sri Lanka Society for Rubber Industry from April 2013 to November 2013. Mr. Masiri Dias was nominated to represent the CRTA on the Board of the Sri Lanka Society for Rubber Industry from November 2013 to April 2014. Since the conclusion of the ADB CCED Project Phase III on 15th June 2013, SRI has assumed full operational responsibility of the Sri Lanka Rubber Secretariat (SLRS) which previously was the project office with respect to the 10 year Rubber Industry Master Plan. To continue functions of the Rubber Secretariat SRI has appointed a Secretary General to spearhead the value adding programs and to oversee routine operations under the direction and advice of the Senior Advisor and with the support of a Consultant – Project Development. The SLRS therefore carries out the implementation of a variety of programs and initiatives under the direction and supervision of SRI. Program of Activities - The initial task devolved on the SLRS was the determining a program of activities which would benefit SRI stakeholders, which also justifies its continuation and thereby convince members of SRI to support the operations. Accordingly, together with the Senior Advisor and the Project Development Consultant a program of activities that cover a period of one year from July 2013 was outlined and forwarded to Chairman SRI and the Ex-Co members to enlist stakeholder support. Rubber Master Plan - A primary task of the SLRS was to make substantial improvements to the Rubber Master Plan drafted by a team of experts under the ADB CCED Project and deemed inadequate by a panel appointed by the Chairman SRI and headed by Mr Mahendra Amarasuriya. The SLRS was responsible in redrafting this document in consultation with stakeholders before submission to the Government as a national document that would qualify for budgetary allocations. Extensive meetings and consultations were carried out during the period under review and the improved draft Master Plan is nearing completion for validation by stakeholders and subsequent submission to the Minister of Plantation Industries. Raw Rubber Survey - The SLRS has taken the initiative to set up a collaborative process for the collection of data with respect to the annual production of raw rubber, as the officially available and published information was deemed to be inaccurate. A survey was conducted among consumers of rubber and the startling conclusion was that the actual quantity of rubber produced in the country during 2012 was around 110,000 MT in contrast to the official number of 152,000 MT. The SLRS survey value has been accepted as a more accurate figure by the concerned authorities. Implication of CESS Collection - A series of discussions were initiated on account of concerns by stakeholders on the situation with respect to CESS collection. These discussions were necessitated due to the diversity of expectations and views held by the stakeholders on the subject of CESS. The Project Development Consultant, who has wide knowledge of the


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subject, prepared an exhaustive discussion paper outlining the details pertaining to the matter, which helped in shedding light on many grey areas of this burning issue. Assistance to the SME Sector - An initiative was launched to assess the needs of the SME sector and to empower their operations to a more satisfactory level with a view to garner their support to achieve the goals set in the Rubber Master Plan. Dr Tissa Jinasena of Loadstar Ltd who is also an Ex-Co member of SRI assisted the SLRS in carrying out an initial survey through visits to selected SME‟s. An assessment report was prepared on each of the SME‟s and individual discussions were held to advise them on improvements that were deemed necessary for business development. Rubber Cluster Young Network (RCYN) - The RCYN is an initiative to involve our young industry professionals to become proactive in strategy, planning and policy making activities. Young professionals are those who will be at the helm of industry in another 10 years when the Master Plan projects begin bearing intended results. It is they who should be involved in planning and driving the Master Plan forward as they are the real beneficiaries. They are expected to look beyond their organizations and collaborate in pre-competitive activities that benefit the industry in general, thereby ensuring that industry reaches its true potential. To achieve this goal of setting up the RCYN a forum was created with the participation of those below 45 years from all disciplines of industry as well as from the universities. During the past year a series of meetings were held in keeping with a variety of topics chosen by RCYN members at which useful discussions ensued. It is hoped that this important initiative would continue into the future where imaginative ideas would evolve that could strengthen the industry in a collaborative network. Sri Lanka – China Free Trade Agreement - Action was initiated to facilitate the proposed Free Trade Agreement between Sri Lanka and the Peoples Republic of China, particularly with a view to achieving the Rubber Master Plan export target of US$ 3.8 billion per year within 10 years. A communication by letter in this regard was made by the Chairman SRI to the Ministry of Finance and Planning with suggestions on working closely with rubber industry representation to create an effective agreement. SLRS Participatory Discussions - The SLRS was privileged to have hosted visits by numerous foreign visitors to the secretariat. These included visits from The Vietnam Rubber Association (VRA); Liberian Rubber Industry delegation; an IFAD mission aimed at expanding rubber cultivation; International Development Cooperation (IDC) Japan and the Global Rubber Conference (GRC) team from Malaysia. Extremely useful benefits are expected to evolve through these interactions that the SLRS will follow through for the benefit of its stakeholders.

THE PLANTERS’ ASSOCIATION OF CEYLON

Mr. S. Ganeshan represented the PA on the CRTA Committee during the year 2013-2014. The Annual General Meeting of PA was held on Friday 13, September 2013. Mr. Roshan Rajadurai was appointed as Chairman while the Deputy Chairman is Mr. Sunil Poholiyadde for the ensuing year.


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EXPORTERS’ ASSOCIATION OF SRI LANKA

Mr. H. De Silva of Eastern Merchants and Mr. T. Shums of Shums & Company Ltd were nominated to serve on the Committee of the Exporters‟ Association of Sri Lanka [EASL] for the year 2013-2014, as the CRTA representative and Alternate, respectively. The Exporters' Association of Sri Lanka, which is affiliated to the Ceylon Chamber of Commerce, held its 16th Annual General Meeting on the July 25, 2013. Mr. Rohan Daluwatte, Manager, Operations & Logistics, Tea Tang (Pvt) Ltd, was elected as the Chairman for EASL. EASL organized an interactive forum titled “Whither exports in the next 5 years”on Friday 25th October 2013, at the Hilton Colombo Residencies, Colombo 2. This forum was designed to bring together leading Exporters to present their perspectives on the sector as it stands currently and where they expect the respective sectors should be in the next 5 years from now, this is in a bid to drive further, the economy of the country. The presentations covered tea, fruits & vegetables, spices, fisheries, apparel, electronics, IT/BPO & the rubber industry. It was also reported that a presentation on „Strategizing For Exports” by Mr. Hilmy Cader of MTI Worldwide Consulting Ltd complemented the deliberations. The panel discussions was moderated by Dr. Anura Ekanayake (Past Chairman, Ceylon Chamber of Commerce), the panel included, Dr. Indrajit Coomaraswamy (Director, Tokyo Cement Company (Lanka) PLC and Dr. Saman Kelegama (Executive Director, Institute of Policy Studies).

THE CEYLON CHAMBER OF COMMERCE

Mr. M.S Rahim and Mr. S. Poholiyadde were nominated to serve on the Committee of the Ceylon Chamber of Commerce from April to November 2013, as the CRTA representative and Alternate, respectively. Mr. Sunil Poholiyadde, the Vice Chairman as CRTA representative and Mr. Anura Edirisinghe were nominated to serve on the Committee of the Ceylon Chamber of Commerce from November 2013 to April 2014. Mr. Suresh Shah Director/CEO Lion Brewery Ceylon PLC was elected as the Chairman of the Chamber at its 174th Annual General Meeting held on July 27, 2013.

SRI LANKA SHIPPERS’ COUNCIL

Mr. N. Silva of C. W. Mackie PLC was nominated to serve on the Committee of the Sri Lanka Shippers‟ Council, as the representative of the CRTA, and Mr. T. Shums of Shums & Co. Ltd., was nominated as the Alternate, for the year 2012-2013. Sri Lanka Customs has introduced the changes on The process of eCusdec without hardcopy & the physical presence of the declarant at the Customs Export Documents Processing Centre and this will enable to exporter to Collect the Examination Fees along with the other payments in one instance for the export cargo clearance procedure with effect from July 1, 2013. The main objective of introducing these changes is to reduce the processing time and cost incurred during Customs clearance. A Gazette Extraordinary on Terminal Handling and Other Charges by Shipping Agents, Freight Forwarders, Non-Vessel Operating Common Carriers, Container Operators and Consolidators of Cargo was published in terms of Freight Forwarding and NVOCC Operators (licensing) regulation 2011, which was published in the Gazette Extraordinary no 1717/6 dated August 02, 2011, entities who conduct the business of Freight Forwarding and NVOCC operators are


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required to obtain annual licenses from the office of the Director General of Merchant Shipping. The office of the Director General of Merchant Shipping urged all exporters and importers to deal only with licensed Freight Forwarding Companies. Sri Lanka Shippers' Council held its 43rd AGM on 14th June 2013 at the Kingsbury Hotel, Colombo with Dr. Priyath B. Wickrama, Chairman Sri Lanka Ports Authority, gracing the occasion as the Chief Guest. Mr. Dinesh De Silva was re-elected as the Chairman of the Council, whilst Mr. Sean Van Dort and Mr. Nalin Silva were re-elected as the 1st Vice Chairman and the 2nd Vice Chairman of the Council respectively.

THE COLOMBO RUBBER BUYERS’ ASSOCIATION

Mr. A. Edirisinghe served as the representative of the CRBA on the CRTA Committee for the year 2013-2014. The Association held its 78th AGM on April 05, 2013 at the Capri Club. Buyers concern were raised on Weight of the Polythene Bags used for packing of rubber bundles which is being included to the net weight of the rubber. The buyers insisted that the net weight of rubber should not be included in the weight of the Poly bags used for packing of rubber bundles. CRTA regulated that the net weight of all the Rubber Bales (without the poly bag) which is packed and sold with a polythene cover and offered at the Rubber Auction held at the CCC should weigh exactly 25 Kgs. Since it has been observed that some sellers pack the rubber bales in 300 gauge polythene bags. As an example a lot of 2500 Kgs nett rubber with poly bags should have a gross weight as follows; (a) 150 gauge polythene bags - 2504 Kgs - 4 Kgs - Tare weight (b) 300 gauge polythene bags - 2508 Kg - 8 Kgs - Tare weight

THE COLOMBO BROKERS’ ASSOCIATION

Mr. Shehan Meegama of John Keells PLC served as the nominee of the CBA on the CRTA Committee during the year under review. The CBA made representations for an increase in Lot Money from Rs.1.00 per lot to Rs.80.20 per lot, as there had been no revision in the rate for, at least, 15 years. In response, the Planters‟ Association advised that they were prepared to increase the rate to Rs.10.00. As such CRTA decided that the Lot Money payable to the CBA will be Rs.10.00 per lot, effective from the first auction in June, 2013.

The CBA requested for revision of rubber warehousing charge from the existing Rs. 1.25 to Rs. 1.70 per Kg with effect from October 1, 2013. In response, the PA conveyed that they were agreeable to an increase of Rs. 0.15 cents per kilogram from the existing Rs.1.25 which in turn would increase the rate to Rs.1.40 per Kg for the forthcoming year. Brokers further proposed that the rate is increased to Rs. 1.50 per Kg, in consideration of the logistical increases the brokers have had to bear over the past two years. It was conveyed that the PA management committee has consented to increase a further -/10 cents per kg to offset broker‟s expenses and the storage charges will change as follows. October to November 2013 –Rs 1.25+-/15 cents = Rs.1.40 per kg December 2013 onwards - Rs.1.25 + -/15 cents + -/10 cents = Rs. 1.50 per Kg


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APPROVED WAREHOUSES OF BROKER / SELLER REGISTERED NO

LOCATION DETAILS

1

2

3

4

5

6

7

8

SIYAKA PRODUCE BROKERS (PVT) LTD

Natural Resins Lanka (pvt) Ltd 349, Dippitigoda Road, Hunupitiya, Wattala

LANKA COMMODITY BROKERS LIMITED

No 570/5B, Weralatuduwa Road, Mabole, Wattala

FORBES & WALKER WAREHOUSING (PVT) LTD

No.805/4C, Bangalawatta Road, Building-D Mabola, Wattala

JOHN KEELLS WAREHOUSING (PVT) LTD

Paras Industries (Pvt) Ltd, No 91, 1st Avenue, Kereawalapituya, Muturajawela, Wattala

JD & SONS (PVT) LTD

Main warehouse store no: 1,# 106 Weliamuna Road, Hendala, Wattala Main Warehouse, # 109, Weliamuna Road, Hendala, Wattala 455/1 & 349 A, B, & C, Dippitigoda Road, Hunupitiya, Wattala Main Warehouse Store no:2, # 106 weliamuna road,hendala, wattala


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BALLOT FOR THE ELECTION OF THE COMMITTEE – 2014/2015

On the results of the ballot, the following were elected to the Committee of the CRTA for the year 2014-2015:

Buyer Representatives

A.M Rahim & Co. Ltd

C.W. Mackie PLC Eastern Merchants PLC

Rajapakse Trading (Pvt) Ltd Almar Trading Company

Richard Pieris & Co. PLC

Seller Representatives

Pussellawa Plantations LTD

Kelani Valley Plantations PLC Kegalle Plantations PLC

Balangoda Plantations PLC Kotagala Plantations PLC

Kahawatte Plantations PLC


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THE CHAMBER BOARD OF ARBITRATORS AND SURVEYORS 2013

The Following were approved as Arbitrators for the year 2013/2014 – Rubber Mr. M. S. Rahim A. M. Rahim & Co. Ltd Mr. J. B. L. De Silva Eastern Merchants Ltd Mr. S. S. Poholiyedde Kegalle Plantations Ltd Mr. Richard Jansz J. D. & Sons (Pvt) Ltd Mr. U. Bandaranayake Forbes & Walker Ltd. Mr. R. C. Peiris Kotagala Plantations Ltd The Following were approved as Surveyors for the year 2014 – Rubber Mr. U C Bandaranayake Forbes and Walker Commodity Brokers (Pvt) Ltd. Mr. K D P Perera Forbes and Walker Commodity Brokers (Pvt) Ltd. Mr. F X Felix PNVX Cargo Inspection Services (Pvt) Ltd.

BY ORDER OF THE COMMITTEE SGD. FOR SECRETARY