Sri Lankan President Mahinda Rajapaksa Thursday met with the small scale rubber planters in the country at Temple Trees for discussions to address their woes.
Representatives from various rubber planters’ associations met with the President to discuss the difficulties faced by the rubber small holders due to the sharp decline in rubber prices.
Sri Lanka’s rubber growers are dually impacted by the falling global prices for rubber and by the dropping production volumes due to the prolonged drought.
The rubber prices have fallen from Rs. 600 for a kilo of latex crepe in 2011 to Rs. 247-310 range in January 2014.
The President, as a solution to the problems faced by the rubber planters, instructed the relevant officials to set a certified price for rubber.
Accordingly, officials from the ministries of Finance, Plantation Industries and Economic Development will work together to take a decision.
Pointing out the need to protect the traditional plantation industry, the President stressed the need to utilize modern technology to expand rubber plantation.
Sri Lanka’s local demand for rubber latex is at 150,000 metric tons annually. However, the local production is only at 133,000 metric tons.
During the meeting, the officials highlighted that a number of measures have been taken to increase the rubber cultivation and latex production in the country.
The President assured the rubber planters that every possible measure will be taken to safeguard their earnings.