Oct 09, 2013 (LBO) – Sri Lanka aims to make the rubber sector a 3.0 billion US dollar industry from the current 1.2 billion US dollars, over the next decade, a top official said.
Sudharma Karunaratne, secretary to the ministry of plantation industry said the island’s rubber sector where 70 percent of raw rubber is made into industrial products is now valued at 1.2 billion US dollar.A plan is now being prepared to make it a 3.0 billion US dollars sector by 2024, with the Asian Development Bank helping, she said.
The industry has a 200,000 workforce with the rubber growing sector dominated by smallholders, she said.
But it was challenge to keep workers in the sector amid higher aspirations, she said.
She was speaking at a meeting of the Association of Natural Rubber Producing Countries (ANRC) in Colombo. The grouping of 11 countries, represent about 93 percent of total natural rubber production in the world.
Karunaratne said Sri Lanka was now a preferred source of solid rubber tyres.
In 2012, world natural rubber production was estimated at 11.38 million tonnes and synthetic rubber 15.09 million tonnes.
Vehicle tyres and gloves manufacture was the main source of demand for natural rubber.
Source: lankabusinessonline.com
