Search

Search form

Logo of Phnom Penh Post newspaper Phnom Penh Post - VN bought $52 million in rubber

VN bought $52 million in rubber

VN bought $52 million in rubber

VIETNAM imported more than 20,000 tonnes of rubber worth around US$52 million from Cambodia in the first 10 months of 2009, and more orders are in the pipeline, an official with Vietnam’s ministry of industry and commerce said.

“We will buy more rubber from Cambodia in the future,” Dao Ngoc Chuong, deputy director in the ministry’s Asia Pacific department, told an investment forum in Phnom Penh on Wednesday.

Cambodian Rubber Association President Mak Kim Hong said Vietnam usually takes around 90 percent of Cambodia’s rubber exports, or somewhere between 25,000 and 35,000 tonnes every year.

It pays sellers international prices, he added, which the association said was $2,600 per tonne last Thursday. Prices averaged $2,435 per tonne last year, its figures show.

Mak Kim Hong also said Cambodia’s rubber output was likely to be up a quarter on 2008 to 50,000 tonnes this year due to a larger area under cultivation.

The Vietnamese Enterprises League announced last month it planned to invest $600 million to grow rubber trees on 100,000 hectares across five provinces in Cambodia to extract rubber for export.

Cambodia has around 110,000 hectares of rubber under cultivation. Analysts predict this will hit 250,000 hectares within five years.

RECOMMENDED STORIES

  • Breaking: PM says prominent human rights NGO ‘must close’

    Prime Minister Hun Sen has instructed the Interior Ministry to investigate the Cambodian Center for Human Rights (CCHR) and potentially close it “because they follow foreigners”, appearing to link the rights group to the opposition Cambodia National Rescue Party's purported “revolution”. The CNRP - the

  • Rainsy and Sokha ‘would already be dead’: PM

    Prime Minister Hun Sen on Sunday appeared to suggest he would have assassinated opposition leaders Sam Rainsy and Kem Sokha had he known they were promising to “organise a new government” in the aftermath of the disputed 2013 national elections. In a clip from his speech

  • Massive ceremony at Angkor Wat will show ‘Cambodia not in anarchy’: PM

    Government officials, thousands of monks and Prime Minister Hun Sen himself will hold a massive prayer ceremony at Angkor Wat in early December to highlight the Kingdom’s continuing “peace, independence and political stability”, a spectacle observers said was designed to disguise the deterioration of

  • PM tells workers CNRP is to blame for any sanctions

    In a speech to workers yesterday, Prime Minister Hun Sen pinned the blame for any damage inflicted on Cambodia’s garment industry by potential economic sanctions squarely on the opposition party. “You must remember clearly that if the purchase orders are reduced, it is all