Import of natural rubber banned
The Government banned the import of natural rubber and imposed an
additional tax of Rs. 5 per Kg. on import of artificial rubber. The
decision was taken at a meeting held recently at the Presidential
Secretariat.
The government has taken this step to assist the rubber industry at
this crisis situation in the face of the global economic crisis. Rubber
prices continued to decline at the Colombo Auction.
The rubber prices recorded at the January 29 auction are; TPC1
Rs.128, TPC2 Rs.123, TPC3 Rs. 120, RSS1 138, RSS2 Rs. 136, RSS3 Rs. 129.
The farm gate price of rubber has dropped to Rs.60-70, sources said.
Due to the declining trend in natural rubber prices at the auction
rubber traders are uncertain of the price they should buy rubber. The
government expects that the new import restrictions will boost the
domestic demand for natural rubber. (GW)
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