Global Rubber Conference concludes successfully

After two days of deliberations the fourth Global Rubber Confab in Colombo closed successfully on 29 October –with participating international reps hailing it a ‘great experience’. “This is an experience-Sri Lanka’s GRC is an astounding success. Despite the very low rubber prices in the global market, we have been fortunate to have it in Sri Lanka with many international experts and speakers in attendance” said Dr. Abdul Aziz (Chairman, Confexhub Sdn Bhd – Malaysia) on 29 evening in Colombo.

Chairman Aziz was making the concluding statement of GRC on the closing event of Global Rubber Conference 2014 (GRC) at Cinnamon Grand, Colombo that commenced on 28 October. GRC 2014 packs more than 250 delegates from 28 countries (including ASEAN, US, EU, East Asia and North Asia). Key stakeholders of the event in Sri Lanka are Ministry of Industry and Commerce (MIC), and Ministry of Plantation Industries, with EDB under MIC being the co-sponsor with Confexhub, Malaysia. The annual GRC is one of the world’s leading confabs on natural rubber and its products. At a gala evening show, two Sri Lankans – Prof DPSTG Attanayaka, who is presently serving as the Dean of the Faculty of Agriculture and Plantation Management of the Wayamba University and Lalith Hapangama (Chairman, Lalan Rubbers)-were also felicitated by GRC with 2014 GRC Wickham Awards.

“This is an experience-Sri Lanka’s GRC is an astounding success. People from different ranges and countries have come together here. Great efforts made by all the parties involved-I recognise efforts of EDB to make this a success” said Chairman Aziz, and added: “GRC is special- the importance of it is highlighted by the Ministerial support of Government. Despite the very low rubber prices in the global market, we have been fortunate to have it in Sri Lanka with many international experts and speakers in attendance. We the rubber industry is in a unique situation. There have been trouble in US, EU markets due to recession and EU is trying to get out of woods. In China a good growth was seen and when it reversed it was a big drop. Today we have learnt that we need to have regular interactions. We have to combine our efforts since alone we cannot do this. Current market scenario is gloomy with oversupply but in terms of future -5 to 10 years ahead -it’s much better with increased demand, low supply forecast and better prices. Profits of latex industry including gloves seem to be very good even now.”

Sujatha Weerakoone (DG-EDB), addressing the closing session, said: “We discussed market trends, price forecasting NR and SR, impact on NR small holders and growers, planting requirements for future, are we heading for oversupply, mechanisation, environment and human related issues and overcoming them through green friendly practices, land productivity, outlook of dipped and tire industries, how far we can replace some of the toxic material used in rubber. We also had lots of good networking and contacts with field trips. These will enable both private and public sectors to take informed decisions on rubber industry and ensure sustainability and social responsibility. We also had the presence of two important Cabinet Ministers -Basil Rajapaksa and Rishad Bathiudeen- in this event that showed the government’s keenness on rubber sector.”

Bandula Egodage (Chairman & CEO-EDB) also addressed the session in brief and thanked all the stakeholders for their commitment to make the event such a success.

Many international reps and speakers at GRC 2014 too said it’s a great experience-“It’s a great experience for us, especially since this is a crucial time for rubber industry and futures” said DAR Wong (Investment Strategist-Dektos, Singapore) who was one of the more than 250 delegates in the Colombo session. “There has been lots of learning and news.” Investment Strategist Wong  counts more than 30 years of commodity exchange trading and now considered as an top expert.

GRC 2014 was the fourth GRC to be held and the first GRC ever to be held in Sri Lanka.