COLOMBO: Sri Lanka is moving forward with an ambitious target of attaining $4bn rubber exports by 2022, according to Rishad Bathiudeen, Ministry of Industry and Commerce.
The nation will launch its first national rubber industry survey in October and will set up lab facilities for the industry. Rubber occupies the third position among highest exported commodities in Sri Lanka.
The first survey to start next month which will survey the industry`s production, factories, employee numbers, and labour issues will be completed at a minimal cost of $ 22700 (Rs 3 Mn), according to a report in AsianTribune.com.
As the world`s 7th largest natural rubber producing country, Sri Lanka offers many types and grades of rubber such as RSS, pale crepe, sole crepe, technically specified rubber and specialty rubber. Sri Lanka`s rubber products are exported to sophisticated markets such as Europe and USA and do not have any problem in adhering to international standards. In 2011 the total rubber production (raw rubber and value added) generated over $ 1.1 Billion in terms of revenue.
Rubber and rubber products also accounted for 10.4% of the total exports of the country, becoming third largest export category only below tea and exports leader, apparel. Value added Rubber accounted for 80% total rubber exports. Rubber coverage in Sri Lanka is about 125,000 Hectares of land and the annual production exceeds 153,000 tons.
Source: rubbermarketnews.net
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