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Sri Lanka mulls controlling rubber imports for export industries

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Updated on : 07-10-2022

Sri Lanka mulls controlling rubber imports for export industries

Sri Lanka is considering controlling rubber imports for export industries in a bid to keep domestic rubber prices up, Cabinet spokesman Minister Bandula Gunawardana said.

Sri Lanka export industries approved by the Board of Investment are allowed to import rubber when required. Some tyre firm in particular need lower grade rubber which are not available in sufficient quantities.

Plantations Industries Minister Ramesh Pathirana had informed cabinet that authorities were looking to control rubber imports to keep domestic prices up, Gunawardana said.

Sri Lanka’s latex prices in particular had dropped reducing incomes for farmers, he said.

During the Coronavirus crises demand for latex (liquid rubber sap) went up as demand for gloves went up.

 For more details: https://economynext.com/sri-lanka-mulls-controlling-rubber-imports-for-export-industries-100717/