Logo of Phnom Penh Post newspaper Phnom Penh Post - Rubber exports down 15 percent

Rubber exports down 15 percent

Rubber exports down 15 percent

CAMBODIA'S rubber exports dropped 15.2 percent last year, caused by falling demand amid oversupply in China, an industry official said.

Ly Phalla, general director of the General Directorate of Rubber Plantation, also said that domestic plantation yields had been disappointing, ruling out the effects of the global economic downtown, a factor others have blamed for the drop in exports.

Cambodia exported 36,000 tonnes of latex rubber resin at an estimated value of US$43.2 million last year, Ly Phalla said, 15.2 percent down compared with 2007.

The main markets for Cambodian rubber are Malaysia, Vietnam and China.

There are 108,000 hectares of rubber trees in Cambodia - of this number, only 34,000 hectares can be tapped for resin, "the rest are too young to start producing", he said, confident that the rubber industry would bounce back next year by producing "at least 60,000 tonnes" in 2010.

Total rubber production is expected to grow to 150,000 hectares by 2015, he added, but sharply decreased prices also damaged the rubber export market.

Latex rubber resin for Standard Malaysia Rubber is down sharply to $1,480 a tonne from a high of $3,200 a tonne last April.

Opposition lawmaker Yim Sovann disputed the claim that the global downturn had not been a factor, arguing that the industry would only recover once the global economy does so.

MOST VIEWED

  • US to ramp up sanctions after ‘flawed’ national polls

    At a press conference on Wednesday, the US State Department announced that it would expand visa sanctions on the Cambodian officials and individuals it deems responsible for “undermining democracy” in Cambodia. At the briefing, spokesperson Heather Nauert reiterated that the department regarded the July 29 elections

  • PM's Bodyguard commander hits back at US

    The commander of Prime Minister Hun Sen’s Bodyguard Unit (BGU) Hing Bun Heang on Sunday dismissed a short video clip that went viral on social media in which he says he is preparing for a war with the United States over its aggressiveness towards

  • Final poll results confirm first single-party Assembly

    IN an unprecedented situation in Cambodian politics, the official results of the July 29 national elections have declared that the Cambodian People’s Party (CPP) will take all 125 seats in the National Assembly on the back of it receiving 76 per cent of the votes. The National

  • Chinese influence to sweep Kingdom?

    Growing Cambodia-China ties have seen the latter’s influence sweep across the Kingdom through increased investments and tourism. The Asian giant has become the leading source of foreign funds in Cambodia, fuelling the construction sector with huge casino and hotel projects. Much of the growth