Logo of Phnom Penh Post newspaper Phnom Penh Post - VN bought $52 million in rubber

VN bought $52 million in rubber

VN bought $52 million in rubber

VIETNAM imported more than 20,000 tonnes of rubber worth around US$52 million from Cambodia in the first 10 months of 2009, and more orders are in the pipeline, an official with Vietnam’s ministry of industry and commerce said.

“We will buy more rubber from Cambodia in the future,” Dao Ngoc Chuong, deputy director in the ministry’s Asia Pacific department, told an investment forum in Phnom Penh on Wednesday.

Cambodian Rubber Association President Mak Kim Hong said Vietnam usually takes around 90 percent of Cambodia’s rubber exports, or somewhere between 25,000 and 35,000 tonnes every year.

It pays sellers international prices, he added, which the association said was $2,600 per tonne last Thursday. Prices averaged $2,435 per tonne last year, its figures show.

Mak Kim Hong also said Cambodia’s rubber output was likely to be up a quarter on 2008 to 50,000 tonnes this year due to a larger area under cultivation.

The Vietnamese Enterprises League announced last month it planned to invest $600 million to grow rubber trees on 100,000 hectares across five provinces in Cambodia to extract rubber for export.

Cambodia has around 110,000 hectares of rubber under cultivation. Analysts predict this will hit 250,000 hectares within five years.

MOST VIEWED

  • Cambodia’s image problem

    In opening remarks at a recent event, Secretary of State at the Ministry of Foreign Affairs and International Cooperation Luy David said information can be a double-edged sword. He told a European Institute of Asian Studies (EIAS) briefing seminar that the media has unfairly presented

  • PM Hun Sen says dangers averted

    Delivering a campaign speech from his home via Facebook Live on Thursday, caretaker Prime Minister Hun Sen said his Cambodian People’s Party (CPP) had carried the country through danger in its latest mandate. He was specifically referring to the threat of a “colour revolution”

  • Kingdom's trade deal with EU questioned before poll

    A European Union (EU) mission met with senior government officials at the Ministry of Interior on Tuesday as the 28-member bloc monitors an agreement under which Cambodian goods reach the crucial European market tariff-free. Some 10 commissioners are in the Kingdom as part of a seven-day

  • A new carrier takes off in capital

    Cambodia Airways, the latest passenger airline to enter the Kingdom, launched its first domestic flight on Tuesday. Flight KR801, carrying 145 passengers, left the Phnom Penh International Airport at 9:50am and landed in Siem Reap at 10:35am in an Airbus A319. Cambodia Airways marketing and branding