Sri Lanka’s cabinet of Ministers has given the go ahead for increasing subsidies given to farmers for planting rubber in a bid to increase productivity in the industry, a statement said.
The subsidy for new planting will be doubled to 300,000 rupees a hectare and the subsidy for replanting will be raised to 350,000 rupees from 175,000 rupees a hectare.
“The government has recognises the need to raise productivity on rubber plantations which is far below that of other Asian rubber growers,” a recently approved statement on approved Cabinet decisions said.
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As a long-term solution, the government will support farmers to replant aging, low-yielding rubber trees with high-yielding clones, it said.
The proposal was put forward by Minister of Plantation Industries Navin Dissanayake for the increased subsidies.
