Sri Lankan government to promote the planting of rubber trees to improve yields and revive dwindling local harvests
The government of Sri Lanka has decided to raise subsidies given to farmers to promote the planting of rubber trees in order to improve yields and revive dwindling local harvests.
The Government Information Department has stated that the Cabinet of Ministers has approved a proposal presented by Sri Lanka’s Minister of Plantation Industries Navin Dissanayake for increasing the subsidies.
The government has reportedly understood the need to raise productivity on rubber plantations which is far below that of other Asian rubber growers, a statement said.
The statement issued by the Government Information Department has stated that as a long-term solution, the government will support farmers to replant aging, low-yielding rubber trees with high-yielding clones, it said.
The subsidy for new planting will be doubled to Rs. 300,000 a hectare and the subsidy for replanting will be raised to Rs. 350,000 from Rs. 175,000 a hectare.
OSL take:
The Sri Lankan government’s decision to provide financial assistance for the replanting of rubber trees would help boost the rubber plantation industry and the manufacture of rubber related products. Foreign businesses looking at engaging in Sri Lanka’s plantation sector could explore opportunities in the rubber plantation and the rubber related manufacturing sector.
| Article Code : | VBS/AT/27082018/Z_5 |