'Rubber producers must combine efforts to face crisis'

The present global rubber market scenario is gloomy with oversupply, but in terms of the future, five to 10 years ahead, it will be much better with increased demand, low supply forecast and better prices, Chairman, Global Rubber Confab (GRC), Dr. Abdul Aziz told the fourth GRC in Colombo last week.

Concluding the two days of deliberations, Aziz said that the rubber industry is in a unique situation. There has been trouble in the US and EU markets due to recession and EU is trying to get out of woods. In China, good growth was seen but there was a big drop when it reversed.

"Today, we learnt that we need to have regular interactions. Rubber producers have to combine efforts since alone we cannot face the crisis. The GRC has been a resounding success. Despite the low rubber prices in the global market, we have been fortunate to have the conference in Sri Lanka with many international experts and speakers in attendance,” he said.

Director General of the Export Development Board, Sujatha Weerakoone said, “We discussed market trends, price forecasting for natural and synthetic rubber, impact on natural rubber smallholders and growers and planting needs of the future."

"We discussed issues such as oversupply, mechanisation, environment and human related issues and overcoming it through green practices, land productivity, outlook of dipped and tyre industries, and how we could replace some of the toxic material used in rubber," she said.

"We also had much networking and field trips. These will enable private and public sectors to take informed decisions regarding the rubber industry and ensure sustainability and social responsibility," Weerakone said.