Sri Lanka raises rubber import tax to protect growers

Oct 24, 2014 (economynext) – Sri Lanka plans to raise the cess on rubber imports by Rs10 per kilo to encourage rubber growers, President Mahinda Rajapaksa, who is also finance minister, told parliament when presenting the budget on Friday.

A guaranteed price of Rs300 per kilo will be given to encourage small rubber growers from November 2014.

Rain guards will be provided for small rubber growers in the wet zone and lands will be provided in other areas to grow rubber, Rajapaksa said.