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Policy mooted for rubber industry

COLOMBO: Rubber production is likely to be a lucrative enterprise in the immediate future. The National Plantation Industry Policy (NPIP) has revealed that following the escalation of petroleum prices, current rubber prices have risen encouragingly.

Rubber records the highest profit among the plantation crops. According to predictions of the International Rubber Study Group , world demand for natural rubber is likely to double during the next two decades to 36 million tons.

Project Director National Plantation Development Project, Raja Premadasa said the rubber product industry in the country has recorded a remarkable development and at present 70 per cent of the natural rubber production is used locally in the local rubber manufacturing and value addition industries.

Although rubber production continued to decline upto 2002 due to unfavourable international prices and low productivity , with the economic recovery in the Asia-Pacific region , the natural rubber prices are becoming attractive for investment. Growing of rubber coupled with parallel commercial crops provides the ideal combination to assure the sustainability of the sub-sector, Premadasa said.

The present deficit between demand and supply of natural rubber is expected to continue as projected by the international Rubber Organisation, that by 2020 world's natural rubber demand will exceed supply thus further increasing the rubber prices according to NPIP.

Since the Natural Rubber industry needs to be supported by a National Policy to ensure its long term survival and to meet the international and domestic growing demand the Policy for the rubber sub-sector will consider all aspects relevant to planting,harvesting, processing, manufacturing and marketing, Raja Premadasa said.

The objectives of the policy mix are achieving competitiveness through improving productivity and quality, reducing costs of production meeting the growing international and domestic demand, increasing profitability ensuring the sustainability of the rubber sub sector and minimising the adverse effects on the environment in order to ensure environmental sustainability.

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