Sri Lanka only accounts for 1 percent of rubber production, but it is the largest producer of industrial tyres—accounting for 60 percent of the global market, according to said Sri Lanka Association Of Manufacturers & Exporters of Rubber Products (SLAMERP) Chairman Prabhash Subasinghe.
“With significant value addition in the manufacturing process as well as the vast potential for future investment, this industry in Sri Lanka can be a 10 billion dollar business annually. But we need to be known as a serious player in raw material production, and if Sri Lanka is to attain ‘hub’ status, rubber production overall needs to increase. There is no doubt in my mind that with a focus on niche market specialized rubber products, our country can be a global force in rubber,” he said to Sri Lanka’s Daily News.
Subasinghe said that the country needs to focus on increasing rubber production. “We also don’t have any encouraging news as far as natural rubber production in Sri Lanka is concerned, from a high 150,000 MT in 2011 the production expected in 2015 is around 80,000 MT. Moreover, our neighbours in Thailand, Vietnam, and Indonesia have all grown their rubber production between 10 and 25%. This is a cause for serious concern, and I invite the attention of the Plantation Industries Minister to take all necessary action to uplift and promote natural rubber production in Sri Lanka,” he said to Daily News.