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

  • Angkor lifetime pass, special Siem Reap travel offers planned

    The Ministry of Tourism plans to introduce a convenient, single lifetime pass for foreign travellers to visit Angkor Archaeological Park and potentially other areas. The move is designed to stimulate tourism to the culturally rich province of Siem Reap as the start of the “Visit

  • ASEAN Foreign Ministers’ meet commences, Taiwan issue possibly on table

    The 55th ASEAN Foreign Ministers’ Meeting (AMM) and related meetings hosted by Cambodia kicks off in Phnom Penh on August 3, with progress, challenges, and the way forward for the ASEAN Community-building on the table. Issues on Taiwan, sparked by the visit of US House Speaker

  • Pailin longan winery tries to break through to the big time

    Longan aren’t quite as glamorous as some fruits. They don’t have the star-power of mangos or generate the excitement of a pricey seasonal niche fruit like the pungent durian. Unlike bananas or oranges, which are known and loved everywhere, longan remains a decidedly

  • Recap of this year’s ASEAN FM meet and look ahead

    This year’s edition of the ASEAN Foreign Ministers’ Meeting (AMM) hosted by Cambodia comes against the backdrop of heightened global tensions and increasing rivalry between major powers that have been compared to the animosity of the Cold War era. The following is The Post’

  • Debt restructuring over, time to tackle rising NPL ratio

    The Cambodian banking system has just completed a 26-month debt restructuring exercise where scores of loan accounts were revised, classified and provisioned as the rate of non-performing loans inched up, sparking a slight credit risk unease Implemented in April 2020, the Covid-19 debt restructuring measures came

  • Koh Slaket studio resort brings culture with style

    Davitra (Cambodia) Co Ltd’s multi-million-dollar 13ha Koh Slaket studio-cum-resort just east of the capital was inaugurated in the first phase on August 6, providing national and international tourists with a new travel option and job opportunities for locals. The man-made cultural and scenic lakefront getaway