Logo of Phnom Penh Post newspaper Phnom Penh Post - Domestic rubber prices rose 44pc on '08

Domestic rubber prices rose 44pc on '08

Domestic rubber prices rose 44pc on '08

RUBBER prices in Cambodia have soared more than 44 percent in the past year, said a Rubber Department official.

Ly Phalla, director general of the department, told the Post Tuesday that the Standard Malaysian Rubber 20 variety was up to $2,435 per tonne at the end of last month from $1,686 per tonne a year earlier as global demand improved.

“There is high demand for rubber in the global vehicle industry, especially from China, while production [globally] has fallen,” he said, adding that the recent rise in crude oil prices on global markets has also pushed up rubber prices.

Rubber tends to track crude on world markets.

Prices have recovered spectacularly in the past five months, he said, following an average price of just $1,500 per tonne in the first half.

“Our rubber price has soared on the Chinese market due to high demand while other [producing] countries like Malaysia, Indonesia … were affected by storms and flooding which damaged production,” said Mak Kim Hong, owner of a 16,000-hectare rubber plantation in Kampong Cham province and president of the Cambodian Rubber Association.

He said he had exported 8,000 tonnes of rubber to China already this year, adding that the usual October slump in prices had not materialised this year.

The Association of Natural Rubber Producing Countries (ANRPC) – which Cambodia joined in September – said that production among its 10 members fell 5.1 percent in the 12 months to September.

In 2008, ANRPC members produced over 9.13 million tonnes of natural rubber, but 2009 production is expected to be only 8.68 million tonnes.

MOST VIEWED

  • Massive stingrays may live in Mekong’s deep pools

    US scientists have suggested that unexplored deep pools in the Mekong River in an area of Stung Treng could potentially be home to significant populations of giant freshwater stingrays, one of the world’s largest freshwater fish species. This comes as a fisherman hooked a 180

  • CCC team off on US business trip

    The Kingdom’s leading economists and private sector representatives have called on the US to renew its tax preferential status for Cambodian exports, as a Cambodia Chamber of Commerce (CCC) delegation departed for a weeklong business visit to the US, where they will meet with

  • PM takes time to meet, greet Cambodians living in the US

    After landing in the US ahead of the ASEAN-US Special Summit, Prime Minister Hun Sen was received by over 1,000 Cambodian-Americans including political analysts who welcomed him with greetings, fist bumps and selfies. Hun Sen also met with analyst Mak Hoeun, who had allegedly spoken ill

  • Khmer cinema classics back on big screen for free at WB Arena’s outdoor movies series

    On a recent Saturday evening at WB Arena, Bunsong was enjoying a tasty BBQ meal with his family after work on the long tables that had been arranged out in front of the restaurant as they watched a Khmer action movie on a big outdoor

  • PM heads to Washington for ASEAN-US special summit

    Regional and international issues and how to bring the ASEAN-US partnership to another level will be discussed at length as Prime Minister Hun Sen and his ministers arrive in Washington, DC, for a special summit on May 12-13. During the trip, Hun Sen and ASEAN

  • National Assembly refutes EU resolution

    The National Assembly (NA) has hit back at a European Parliament resolution condemning the political and human rights situation in Cambodia, calling it another display of the Parliament’s “double standards”. Key points of the resolution include a warning that the Parliament could exclude the