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  • Written on 27.10.2014 - Industry
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SRI LANKA: Govt. to increase certified price for rubber: Budget 2015

Sri Lanka President Mahinda Rajapaksa, 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 Research Institute (TRI) and Rubber Research Institute (RRI).

Sri Lanka aims to make the rubber sector a USD 3 billion industry by 2020.

Sri Lanka rubber exports has increased to USD 960 million in 2013 up 100 % from year 2009.

In 2013, Sri Lanka exported USD 72 million of natural rubber and USD 887 million of finished rubber products.

Source: “Lanka Business Online”, Colombo; 25 Oct 2014
(Syed Rashid Ali, Karachi, Pakistan)


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