Logo of Phnom Penh Post newspaper Phnom Penh Post - Rubber exports rise by 30% year-on-year

Rubber exports rise by 30% year-on-year

Content image - Phnom Penh Post
The commodity reeled in $377 million in revenue last year, up 32 per cent from 2018’s $286 million. Post staff

Rubber exports rise by 30% year-on-year

Cambodia exported more than 282,071 tonnes of rubber last year, a 30 per cent increase from 2018’s 217,501 tonnes, a Ministry of Agriculture, Forestry and Fisheries report said.

The commodity reeled in $377 million in revenue last year, up 32 per cent from 2018’s $286 million, the report said.

Khoun Phalla, the director of the General Directorate of Rubber’s Administration and Legal Department, told The Post on Monday that increased demand was the main driver of the industry’s growth last year.

Rubber prices rose slightly but not enough to turn consumers away from the commodity, he said.

The average price last year was $1,336 per tonne, up $19 from 2018’s average price tag, he said. In December alone, the price averaged $1,371 per tonne, up $44 from November last year.

“China is the biggest market for Cambodia’s rubber right now. We export it to China through Vietnam. I expect rubber prices will remain stable this year,” he said.

The data also showed that a total of 406,142ha of rubber had been planted last year, with more than 247,113ha having been harvested.

The General Directorate of Rubber announced a joint study on family-owned rubber plantations in three provinces to better understand how growers have responded to the sharp drop in rubber prices over the past nine years, Rubber Development Department deputy-director Kou Phally said earlier this month.

The study will focus on the Kingdom’s three dominant rubber-producing regions – Kampong Cham province’s Stung Trang district, Kratie province’s Snuol district, and Ratanakkiri province’s Bakeo district, he said.

Meanwhile, Rubber growers and exporters have expressed concern that prices will continue to fall as Thailand seeks to boost its natural rubber exports, said Sopheak Nika Investment Agro-Industrial Plants Co Ltd owner and director Men Sopheak.

In November, Thai Minister of Commerce Jurin Laksanawisit told a conference of reporters and rubber growers that Thailand will boost natural rubber exports to increase incomes for the latter following implementation of the four-month curb agreement, Reuters reported.

In March, the International Tripartite Rubber Council (ITRC), which comprises Thailand, Indonesia and Malaysia, agreed to reduce rubber exports by about 240,000 tonnes from late May to late September to buoy local prices.

The three Southeast Asian neighbours, which produce 70 per cent of the world’s natural rubber, ended up slashing exports by 441,648 tonnes during the period.

MOST VIEWED

  • 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

  • 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

  • Gov’t issues guidelines as lockdown nears end

    The government has issued a five-page set of instructions to be enforced when the three-week lockdown of Phnom Penh and adjacent Takmao town in Kandal province ends on May 6. According to an announcement signed by Prime Minister Hun Sen on May 4, the instructions cover a

  • Cambodia ready to exit LDC status

    Cambodia is well-prepared to minimise economic risks when it graduates from its Least Developed Countries status, according to a senior official at the Ministry of Commerce on May 7. Four LDCs – Cambodia, Laos, Bangladesh and Nepal – met at a virtual workshop last week to explore potential

  • Nine US franchises eye Cambodia debut

    Nine famous US franchising companies are looking for business opportunities and expansion into Cambodia to build a footstep for a strong foundation in Southeast Asia. The US embassy in Phnom Penh, in partnership with the US Foreign Commercial Service and with support from the American

  • Jab drive announced for two more Phnom Penh districts

    The Phnom Penh Municipal Administration on May 15 announced a first-dose novel-coronavirus vaccination campaign for Boeung Keng Kang and Sen Sok districts from May 18-31, and a follow-up second-shot drive from June 1-15. Twenty vaccination sites have been set up in a combined 13 communes across both