Logo of Phnom Penh Post newspaper Phnom Penh Post - Rubber market bouncing back up

Rubber market bouncing back up

Content image - Phnom Penh Post
The average price of rubber during this period was $1,585 per tonnes, indicating a minor decrease over the same period last year. YOUSOS APDOULRASHIM

Rubber market bouncing back up

Cambodia exported more than 48,000 tonnes of rubber to international markets in the first two months of the year, an increase of six per cent compared to the same period last year, netting more than $76 million, according to data released by the Ministry of Agriculture, Forestry and Fishery’s General Directorate of Rubber.

The directorate said the total export in January and February was 48,509 tonnes, raking in $76.88 million. The average price of rubber during this period was $1,585 per tonnes, indicating a minor decrease over the same period last year.

During the same period, 808 cubic metres of rubber wood worth $355,946 was exported, an increase of 66 per cent.

Lim Heng, vice-president of the Cambodia Chamber of Commerce, told The Post that in recent years, investment in rubber showed little progress because the price of Cambodian rubber is based entirely on international markets. Cambodia’s data is therefore based entirely on export figures. These two factors mean rubber has not been an attractive investment.

He said, however, that the establishment of a tyre factory by Cart Tire Co, Ltd – for export to international markets in 2021 – has led to a gradual rise in investment.

“We expect that new investment in vehicle tyres and the opening of the car manufacturing market segment in Cambodia will increase demand for rubber, with a corresponding increase in the price of raw materials,” he said.

According to the directorate, the Kingdom has 404,044ha dedicated to rubber production, with 310,193ha of productive ground and 93,851ha to maintain the plantations.

Agriculture minister Veng Sakhon said during his ministry’s annual meeting on March 23 that Cambodia earned more than $610 million from the export of rubber and rubber wood to international markets.

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

  • Ice cream, noodles flagged over carcinogen

    The General Department of Customs and Excise of Cambodia (GDCE) has identified three types of instant noodles and ice cream trademarks originating from Thailand, Vietnam and France that are suspected to contain ethylene oxide, which poses a cancer risk to consumers. The general department has

  • Exclusive interview with Josep Borrell Fontelles, High Representative of the EU

    CAMBODIA is hosting the 55th ASEAN Foreign Ministers’ Meeting (AMM) and Related Meetings this week with top officials from the US, China, and Russia and other countries in the region slated to attend and to meet with face-to-face with their counterparts on the sidelines. In

  • Rise in Thai air routes to Siem Reap fuels travel hopes

    Local tourism industry players are eager for regional airline Bangkok Airways Pcl’s resumption of direct flight services between the Thai capital and Siem Reap town on August 1 – home of Cambodia’s awe-inspiring Angkor Archaeological Park – which is expected to boost the growth rate of

  • 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

  • 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’