August 16, 2011

Rubber prices increasing


Cambodian rubber prices have increased about five per cent over the past year, according to Cambodian Rubber Association president Mak Kim Hong. Top-quality rubber sold for US$4,700 a tonne at the weekend, compared with $4,475 a tonne at this time last year.

“Now there’s high demand for rubber on the international market, especially from China. We mostly export our rubber to China,” Mak Kim Hong said. “This is the time to invest more in the sector.” Mak Kim Hong, who is also the director-general of Chub Rubber Plantation, said his company aimed to export about 10,000 tonnes of rubber to China this year.

Cambodia has seen 84 percent rise in the exports of rubber latex in the first half of this year, compared with the same period a year ago, according to the statistics from the Commerce Ministry’s Camcontrol Department, which is the government’s Import-Export Inspection Agent, on Wednesday.

The data recorded that from January to June this year, the country had exported a total 21,511 tons of rubber latex, 84 percent rise from 11,665 tons at the same period last year.

The country earned the total revenues of 102 million U.S. dollars during the first half of this year, 234 percent rise from 30.5 million U.S. dollars it earned within the same period last year, it added.

A ton of good quality rubber latex is about 4,475 U.S. dollars now, up from about 3,450 U.S. dollars at this time last year, Mok Kim Hong, the president of the Chub Rubber Plantation in Kampong Cham province.

Cambodia’s rubber latex has been exported to Malaysia, Vietnam, and Singapore.

Currently, the country has grown approximately 181,450 hectares of rubber plantations, most of them are young crops, which have not yet yielded.

Rubber plantations are found grown mostly in the provinces of Kampong Cham, Kampong Thom, Mondulkiri, Ratanakiri, Kratie and Preah Vihear.

Vietnam is the leading country investing in rubber plantations in Cambodia with up to 100,000 hectares of concessional land from Cambodian government for this crop.

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