Rubber growers and exporters in Cambodia stalled exports as rubber prices continued a sharp decline that companies attributed to flooding in Thailand and economic turmoil in Europe.
Heng Sreng, general director of Long Sreng International Co Ltd and owner of Boeung Keth Rubber Plantation in Kampong Cham, said rubber prices have fallen by more than 27 per cent since September.
His company may delay exports until January or February if prices remain low.
“At this time we have yet to export because the rubber price is dropping and I may postpone my exports further until Chinese New Year,” he said. In early September, one tonne of high-grade rubber sold for US$4,530, he added. The same rubber sold for $3,300 to $3,400 per tonne this month.
Companies in Thailand and Europe have downscaled construction activity due to floods and economic crisis, Heng Sreng added.
Cambodia exported about 35,075 tonnes of rubber worth more than $160 million during the first nine months of the year, according to figures from the Ministry of Commerce.