Sri Lanka increases planting subsidies for rubber
Aug 22, 2018 15:48 PM GMT+0530 | 1 Comment(s)
ECONOMYNEXT – Sri Lanka’s government is to sharply raise subsidies given to farmers for planting rubber trees in an effort to improve yields and revive dwindling local harvests, the information office said.
The Cabinet of ministers this week approved a proposal by Minister of Plantation Industries Navin Dissanayake for the increased subsidies.
The government has recognised the need to raise productivity on rubber plantations which is far below that of other Asian rubber growers, a statement said.
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 Rs300,000 a hectare and the subsidy for replanting will be raised to Rs350,000 from Rs175,000 a hectare.
(COLOMBO, 22 August, 2018)