Logo of Phnom Penh Post newspaper Phnom Penh Post - Natural rubber exports retain bounce during Covid-19 crisis

Natural rubber exports retain bounce during Covid-19 crisis

Content image - Phnom Penh Post
The Kingdom exported 18,604 tonnes of natural rubber to the international market last month, up 58 per cent from 11,751 tonnes in March. POST STAFF

Natural rubber exports retain bounce during Covid-19 crisis

Cambodia exported $22.17 million worth of natural rubber to the international market last month, gaining 6.3 per cent over April 2019’s $20.85 million, said a Ministry of Agriculture, Forestry and Fisheries report.

By volume, the exports increased 21.73 per cent from 15,282 tonnes in April last year to last month’s 18,604 tonnes, at an average per-tonne value of $1,192, down 12.67 per cent year-on-year from $1,365, it said.

Pol Sopha, the director-general of the ministry’s General Directorate of Rubber, told The Post on Tuesday that natural rubber exports had avoided the worst of the pandemic, which has led to a global economic crisis and has disrupted the supply chains of commodities around the world.

The volume of the Kingdom’s natural rubber exports increased 58 per cent from 11,751 tonnes in March, he said, noting that prices on the international market have tumbled.

“The value of our exports has been rising because of our high volume of production,” said Sopha.

The demand for natural rubber on the international market will continue to grow through 2024-2025, he said, citing an undisclosed “expert study”. Exports are expected to grow until 2025, as rubber cultivation area in the Kingdom continues to expand.

In March, the government reduced taxes on rubber exports to minimise the impact of international price shocks.

A sub-decree signed by Prime Minister Hun Sen on Sunday stipulates that exports of rubber valued under $1,400 per tonne are not taxable. Shipments valued between $1,400 and $3,500 per tonne will be taxed $25 to $200 per tonne.

Latex prices will continue to decline to next year, said a report by Research and Markets. China consumes the most natural rubber in the world or 41 per cent of the global total.

Last year, Cambodia exported 282,071 tonnes of natural rubber worth $377 million, a 30 per cent increase over 2018, ministry data shows. A total of 247,144ha were harvested, out of the 406,142ha available for the cultivation of natural rubber trees in the Kingdom.

Sopha said: “The area for natural rubber cultivation in 2020 has not changed much from 2019, but more than 310,000ha has been harvested this year.”

MOST VIEWED

  • Municipal hall releases map detailing colour coded Covid risks by commune

    Phnom Penh municipal governor Khuong Sreng released an official map detailing the red, yellow and dark yellow zones within the city under the new lockdown orders for Phnom Penh announced on April 26. The designation of red, dark yellow and yellow corresponds to areas with high,

  • Inter-provincial travel ban lifted; Phnom Penh and Takmao not exempted

    The government on April 25 decided to lift the inter-provincial travel ban and the closure of tourist attractions across the country, effectively immediately. The travel ban and closures of all resorts were imposed on April 6 and 17 respectively in a bid to curb the spread of Covid-19,

  • Phnom Penh unveils rules for post-lockdown transition

    The Phnom Penh Municipal Administration issued a set of detailed guidelines for the seven days to May 12 after the capital emerges from lockdown at the onset of May 6. In the 14-page document signed by municipal governor Khuong Sreng released on the evening of May 5, the

  • Phnom Penh, Takmao lockdown extended for another week

    The government late on April 26 announced an extension of lockdown in Phnom Penh and adjacent Takmao town in Kandal province for another seven days – or longer if residents do not comply with Covid-19 preventive measures and the community outbreak does not subside – until May 5. According

  • Gov't mulls extension of Phnom Penh, Takmao lockdown

    The Inter-ministerial National Commission for the Control and Enforcement of Lockdown held a video conference meeting on April 25 to review a draft document on the extension of lockdown in Phnom Penh and adjacent Kandal province’s Takmao town. The meeting was chaired by Minister of

  • SBI LY HOUR Bank Launches Cross Border Money Transfer Service between Cambodia and Vietnam on RippleNet, utilizing DLT

    SBI LY HOUR Bank Plc and Hanoi-based Tien Phong Commercial Joint Stock Bank (TPBank) on Friday launched the first Cambodia-Vietnam money transfer service in real currency via RippleNet, provided by SBI Ripple Asia Co Ltd to provide safe, fast and convenient services. SBI LY HOUR