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Posted by / 04-Jun-2017 05:05

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60th Anniversary of the Sino-Lanka Rubber-Rice Pact By Nihal Mallikaaratchi This December marks the 60th anniversary of the historic Rubber-Rice Pact between Sri Lanka (then Ceylon) and the People’s Republic of China signed on December 18, 1952.It was signed by then Minister of Commerce, late R. Senanayake and his Chinese counterpart in the [...] This December marks the 60th anniversary of the historic Rubber-Rice Pact between Sri Lanka (then Ceylon) and the People’s Republic of China signed on December 18, 1952.If you are unhappy with the way Flash Player is functioning on your computer, please try switching to the HTML-5 site version by pressing on the "rocker".

But it didn’t have sufficient foreign funds to continue with the purchases, and furthermore the rice obtained from the United States and Ecuador was not to the taste of the Sri Lankan palate.

During the same period the international demand for natural rubber decreased due to the introduction of synthetic rubber as a substitute, which resulted in lowering the price of the natural rubber, on which export Sri Lankan economy depended.

Thus, Sri Lanka had to face a severe economic crisis.

In the early 50′s, there was a world shortage of rice which created a sharp increase in the international market price.

That was a period when the government of Ceylon was committed to provide two measures of rice per week to every person, at a subsidized price.

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It was signed by then Minister of Commerce, late R. Senanayake and his Chinese counterpart in the presence of then Prime Minister of China, Zhou En Lai in Beijing (then Peking).

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