Having identified the need for an exclusive forum to manage the interests of the Rubber Industry of the country, the Rubber Committee of the Ceylon Chamber of Commerce, that had nurtured the interests of the Rubber Trade since 1891, on November 27, 1918, formally inaugurated the Colombo Rubber Traders’ Association [CRTA]. Leading personalities in the business circles of Colombo, associated with this development, included Messrs. Hayley, Durrent, Mackwood, Oldfield, Henry De Mel and John Tarbat, of which Knighthoods were conferred on the last two named.

Mr. J. Lochore of Carson & Co. Ltd. was appointed as the first Chairman of the CRTA, with a Committee of two nominees each from amongst the sellers and buyers, initially. A
representative of the Brokers was invited to serve on the Committee at a later date.

Members of the CRTA Committee were of European nationalities till 1945, when Mr. S.T.L. De Soysa of C. W. Mackie & Co. Ltd. was elected as one of the buyers’ representatives.

The conducting of an auction for the sale of rubber commenced on November 4, 1910, which was prior to the formation of the CRTA. The rubber auction was suspended during the war years and recommenced on June 2, 1950, with the first auction of crepe rubber. On the termination of the Rubber/Rice pact with the People’s Republic of China, the sale of sheet rubber recommenced at the auction held on April 30, 1981. The first sale of latex by Auction was held on January 24, 1997.