Logo of Phnom Penh Post newspaper Phnom Penh Post - Cambodia rubber drops 6 per cent

Cambodia rubber drops 6 per cent

Cambodia rubber drops 6 per cent

Cambodia's rubber prices declined almost six per cent in the past two weeks, caused by concern over the European crisis with Greece, industry players and Cambodian officials said yesterday.

Men Sopheak, deputy director general of Chop Rubber Plantation, a big rubber exporter in Cambodia, said the price declined by $200 from $3,550 to $3,350 per tonne in the past two weeks.

“The price has dropped during the last two weeks because of the decrease in demand and consumption reduction caused by the crisis in Greece and Europe,” he said.

Heng Sreng, general director of Long Sreng International Co Ltd and owner of Beoung Ket Rubber Plantation in Kampong Cham province, was also affected by the declining price. He said exports to China had been about 500 tonnes.

“The crisis in Europe impacted the rubber industry in China and caused the decline of rubber prices,” Heng Sreng said.

He expressed optimism that the price would bounce back.

“Even with the decrease in price, I don’t think it impact the industry very much. I am optimistic that it will climb back up soon,” he said.

Cambodia exported 12,805 tonnes of rubber worth $41.18 million to foreign markets in the first quarter of 2012.

Thailand is the world’s largest rubber producer followed by Indonesia, Malaysia, India, Vietnam and Sri Lanka.

According to the magazine Rubber Asia, the Asian continent supplies 92 per cent of the world’s supply of natural rubber.

To contact the reporter on this story: Sieam Bunthy at [email protected]

MOST VIEWED

  • Diplomatic passports issued to foreigners to be annulled

    The Ministry of Foreign Affairs and International Cooperation will move to annul diplomatic passports issued to those not born in Cambodia. Analysts say the move may be in relation to reports that former Thai prime minister Yingluck Shinawatra used a Cambodian passport to register as

  • The hairy little heroes saving many lives in rural Cambodia

    IN RURAL Siem Reap province, rats dare to tread where no person will, as these hairy little heroes place their lives on the line each day for the good of the local community. The rodents are the most important members of a special team, leading

  • Hun Sen warns Irish MP of EBA ‘mistake’

    Prime Minister Hun Sen on Saturday told former Irish premier Enda Kenny, still a member of the EU nation’s parliament, that the 28-nation bloc should not make a “third mistake” regarding Cambodia by using the preferential Everything But Arms (EBA) agreement to “take 16 million

  • PM warns EU and opposition on 34th anniversary of his rule

    HUN Sen reached the milestone of 34 years as Cambodian prime minister on Monday and used the groundbreaking ceremony for a new ring road around Phnom Penh to tell the international community that putting sanctions on the Kingdom meant killing the opposition. “Please don’t forget