The Philippines is looking to implement various initiatives to develop the rubber industry, with investment promotions and trade fairs/expositions soon to be planned and organised locally or internationally by its Department of Trade and Industry-Export Marketing Bureau (DTI-EMB) along with other relevant authorities.
Among these initiatives is the inclusion of rubber as a value crop in agribusiness, which includes mangoes and banana. So far, a significant portion of its exports of natural rubber (NR) are comprised of products that include tyres, automotive/industrial products, footwear and latex-based products. The Philippine government will thus focus on strengthening the production/processing of NR in agribusiness and address binding constraints, such as supply and value-chain gaps, access to technologies and finance, weak regulatory and certification system, lack of infrastructure, and research and development.
Global consumption of NR is expected to reach some 15.24 million metric tonnes by 2022, driven by an anticipated improvement in the global economic outlook and strong growth of the automotive and health-care sectors – the Philippines is currently among the top producers of NR globally.
The Philippines is looking to implement various initiatives to develop the rubber industry, with investment promotions and trade fairs/expositions soon to be planned and organised locally or internationally by its Department of Trade and Industry-Export Marketing Bureau (DTI-EMB) along with other relevant authorities.
Among these initiatives is the inclusion of rubber as a value crop in agribusiness, which includes mangoes and banana. So far, a significant portion of its exports of natural rubber (NR) are comprised of products that include tyres, automotive/industrial products, footwear and latex-based products. The Philippine government will thus focus on strengthening the production/processing of NR in agribusiness and address binding constraints, such as supply and value-chain gaps, access to technologies and finance, weak regulatory and certification system, lack of infrastructure, and research and development.
Global consumption of NR is expected to reach some 15.24 million metric tonnes by 2022, driven by an anticipated improvement in the global economic outlook and strong growth of the automotive and health-care sectors – the Philippines is currently among the top producers of NR globally.