Rubber earnings hit US $ 1 billion mark
Shirajiv SIRIMANE
For the first time revenue generated from rubber based product
exports would hit the US $ one billion mark by the end of the year. Last
year the forex from this industry was around US $ 975.
The main reason for this gain was the increase in production.
Spokesman for the Sri Lanka Association of Rubber Producers,
Manufacturers and Exporters, Justin Seneviratne said that 75 % of rubber
based products were exported and the main markets were USA, Europe and
Japan.
He said that 65 % of the local rubber product exports consist of
solid tyres and 25 % were rubber gloves. In addition Sri Lana also
exports foam and rubber, carpets, cushions mattresses and pillows.
He said that the local production is around 150,000 metric tons and
the aim is to increase this to 250,000 by 2025. “In a bid to spread the
crop to non traditional areas rubber is now being grown in Moneragala,
Maha Oya and many other areas. “We will also carry out tests in the
Northern areas like Kilinochchi with the assistance of Asian Development
Bank funds,” he said.
“He said that when this project is complete, Sri Lanka would have a
production in the excess of 250,000 tonnes and then we can look for a
revenue in the excess of US $ four billion,” he said.
Sri Lanka’s rubber gloves, which come in variants like lightly
powdered,powder-free, low-protein, smooth, textured, and coloured, are
found widely in operating theatres, hospitals, electronic plants and
other environments that require the use of sterile equipment. The
flexibility and versatility of rubber has resulted in an extensive range
of rubber-based products and components widely used in several
industries, such as building, automotive and construction.
Rubber manufacture has been a solid part of Sri Lanka’s economy since
the very early 1930’s and currently the country is the sixth largest
exporter and the eighth largest natural rubber producer.
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