Oct 25, 2014 (LBO) – Sri Lanka President in his capacity as the Minister of Finance said the government is expecting to increase the certified price for rubber to 300 rupees per kilogram and increase the Cess tax on rubber imports by 10 rupees per kilo.
The funds will be allocated to modernise the Tea (TRI) and Rubber Research Institute (RRI).
Sri Lanka aims to make the rubber sector a 3.0 billion US dollar industry in 2020.
Sri Lanka rubber exports has increased to 960 million dollars in 2013 up from 100 percent from year 2009.
In 2013, Sri Lanka exported 72 million dollars of natural rubber and 887 million dollar of rubber finished products.
– lankabusinessonline.com
