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Saturday, 26 February 2011

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Good times for rubber industry

Sri Lankan rubber recorded a highest price of Rs 730 per kilo for RSS grade 3 rubber. This was the highest price reached in this grade in the history of Sri Lankan rubber.

“This was the highest ever price recorded for rubber at the Colombo auctions held last week,” a Plantation Industries Ministry spokesman said.

Year 2011 so far has been the best year for traders with rubber being auctioned at high prices from January. ”Sheet rubber of both high and lower grades were also sold at comparatively higher prices,” he said. The Rubber market seems to be gaining momentum with rising demand with big buyers’ participation and short supply in the world market.

He said that the Government provides fertilizer and high quality rubber saplings to promote the rubber industry. Rubber smallholders contribute 70 percent of the country’s rubber production. “We want sustain them in the industry”.

So, the higher prices of rubber have encouraged many smallholders to increase production,” he said. The rubber industry also remains a major sector in the economy in terms of contribution to the Gross Domestic Product (GDP), export earnings, employment and income, involving large numbers of smallholders.

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