Crain News Service report
COLOMBO, Sri Lanka (Oct. 15, 2013) — Sri Lanka intends to grow the value of its rubber industry to $3 billion from $1.2 billion.
Sudharma Karunaratne, secretary to the Ministry of Plantation Industries, made that pledge at a meeting of the Association of Natural Rubber Producing Countries.
She said the country's plan to do so is being prepared with the Asian Development Bank. Sri Lanka's industry has a workforce of 200,000, with the rubber-growing sector dominated by smallholders, Ms. Karunaratne said.
She added that Sri Lanka has become a source of solid rubber tires for much of Asia.
This report appeared on the website of European Rubber Journal, a UK-based sister publication of Tire Business.