Logo of Phnom Penh Post newspaper Phnom Penh Post - Exports of rubber latex, wood rake in over $326M in Jan-Aug

Exports of rubber latex, wood rake in over $326M in Jan-Aug

Content image - Phnom Penh Post
The Kingdom exported 4,379 cubic metres of wood from rubber trees in January-August. YOUSOS APDOULRASHIM

Exports of rubber latex, wood rake in over $326M in Jan-Aug

Cambodia generated more than $326 million from the export of rubber latex and wood in the first eight months of this year, according to the Ministry of Agriculture, Forestry and Fisheries’ General Directorate of Rubber.

From January-August, the Kingdom earned a total of $326,338,728.84 from the export of 194,525 tonnes of latex, up by eight per cent year-on-year by weight, and 4,379 cubic metres of wood from rubber trees, known scientifically as Hevea brasiliensis.

During the period, the average price of latex surged by $386 or 30 per cent year-on-year to $1,673, the directorate reported.

Directorate head Him Oun told The Post on September 28 that governments of rubber-producing countries have been gradually lifting coronavirus-relatedrestrictions to revive economies and take some pressure off of supply chains of natural latex, contributing to the rise in exports.

“Demand for rubber products is growing and large companies need to buy up to fill stockpiles, take Chinese firms for example,” he said, adding that the price of latex was above last year’s levels.

Total rubber cultivation in Cambodia is currently 404,160ha, of which 292,500ha or 72 per cent are mature trees that are tapped for latex, according to the ministry.

Oun pointed out that this year’s rubber harvest area has expanded by 21,819ha versus 2020. This, combined with the ministry figure, would mean an 8.061 per cent increase from 270,681ha.

Cambodia exports rubber latex and wood to Vietnam, Malaysia, Singapore, China, Japan and India, as well as smaller quantities to the EU.

Oun went on to say that the directorate “will continue to strive to promote the production of rubber according to market demand … [and] put out daily prices for all farmers and rubber players, to make it more manageable for producers and traders to strike deals”.

Men Sopheak, CEO of rubber grower and exporter Sopheak Nika Investment Agro-Industrial Plants Co Ltd, stressed that fluctuations in international demand have immediate effects on Cambodian rubber prices, due to the market’s high degree of dependence on external forces.

He said the Cambodian market has historically been weak due to a lack of local processing.

“The current rise in rubber prices is due to the reopening of more factories and industries in emerging economies, especially China,” Sopheak said.

MOST VIEWED

  • Cambodia unveils new quarantine regulations

    The government has modified Covid-19 quarantine requirements, shortening the duration for, among others, Cambodian officials, foreign diplomats and delegations, investors and inbound travellers in general. According to an official notice signed by Minister of Health Mam Bun Heng late on October 16, quarantine length for Cambodian

  • Cambodia sets new Covid-19 quarantine rules

    The government has modified Covid-19 quarantine requirements, shortening the duration for, among others, Cambodian officials, foreign diplomats and delegations, investors and inbound travellers in general. According to an official notice signed by Minister of Health Mam Bun Heng late on October 16, quarantine length for Cambodian

  • Hun Sen: Cambodia set to fully reopen

    Prime Minister Hun Sen concludes that the October 5-7 Pchum Ben public holiday, during which many people either flocked to their hometowns for family reunion or gathered at tourist attractions across the country, has not caused an outbreak of Covid-19. In a special address to

  • Will Evergrande change the way Chinese developers do business in Cambodia?

    China’s property sector policy has exposed the grim financial condition of real estate developers including those operating in Cambodia, which raises questions over the viability of their projects and business going forward The dark blue netting draping over one of Yuetai Group Co Ltd’

  • Cambodia voted ‘world’s friendliest country’ in Rough Guides reader poll

    Cambodia ranked number one among the “World’s Friendliest Countries”, according to a reader poll conducted by London-based international website “Rough Guides”. Taking submissions through Twitter and Facebook, “Rough Guides”, a well-known travel agency and publisher of guidebooks, said the Kingdom “was by far the

  • S’ville set to turn into ‘second Shenzhen’

    The Ministry of Economy and Finance has awarded a master plan consultancy contract to top Chinese institute for the development and transformation of Preah Sihanouk province into a “Model Multi-Purpose Special Economic Zone”, Southeast Asia’s next logistics and resort hub and innovation centre. The