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Rubber could raise US $ 5 billion soon

The value added, rubber result in foreign exchange earnings of about US $ 5 billion in the short term, the plantation minister, Navin Dissanayake said.

However, these influences are inevitable, the minister said that adding value, the result of rubber in the foreign exchange earnings of about US $ 5 billion in the short term.

The experts' opinions indicated that oil prices will continue to dominate rubber price structures.

However, these influences are inevitable, the minister said that adding value, the result of rubber in the foreign exchange earnings of about US $ 5 billion in the short term. Indicators suggest that oil prices will stabilize at the current level for about a year. As a result of this stabilization, projected revenues of US $ 5 billion were valuation of the real rubber market.

Dissanayake said that regardless of the reduction in production, the recent rubber price placed Sri Lanka in the segment of billions of dollars in 2016. This would further enhance the influence of oil prices gaining dollar value resulting in a concomitant increase in Price of rubber.

"Rubber Sri Lanka will establish the status of hub for products, although other countries have largely exceeded our country in rubber production. Rubber imports to close the output gap will ensure that the reputation So far established our rubber products will continue to affect the world markets, "Dissanayake said in an interview.

Commenting on Billionaire's rigid tire project that opened in Horana last week, he said it would do well for the local rubber industry. "This was a significant investment and a pioneer for more investment in other parts of the country, as well as foreign investors."

When asked whether established firms producing tires and other value-added products would complement the current situation of other manufacturers or the competitive position, the Minister responded that competition, the spectrum of possibilities in real terms Could be stimulated it is described as unlimited. (SS)

He said the local rubber consumption was more than 22,000 tons, but production was only 80 percent of this figure. The output gap was filled by imports for addition and value exports.

He said the local rubber consumption was more than 22,000 tons, but production was only 80 percent of this figure. The output gap was filled by imports for addition and value exports. Rubber has a healthy future in Sri Lanka. Minister Dissanayake noted that imports of tea and coconut were mainly resisted by the small-scale producers, who feared their livelihoods, would be seriously affected. Although this is open to question, in fact, both crops would win if imports were allowed. He said he is considering all options before long-term decisions could be reached.

 
 

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