Cambodian Rubber Prices Fall on International Markets Due to Low Demand
This photo show rubber plantation. Photo: General Directorate of Rubbers
- By Chhum Chantha
- September 27, 2023 4:12 PM
PHNOM PENH – The price of Cambodian rubber in the international market has dropped due to lower demand, says an official.
In the first eight months of this year the export price was down 15 percent to $1,327 per tonne on the same period last year, said Him Sam Oun, director-general of the Directorate of Rubber at the Ministry of Agriculture.
In the recent eight months, Cambodia exported more than 200,000 tonnes of rubber, up more than 6,000 tonnes or three percent on the same period last year and earning $273 million.
Lower demand had led to this decrease. Meanwhile, the global rubber market was also at a lower level.
Sam Oun also attributed the fall in price to the interest rates of the US Federal Reserve bank, which remained high while the Russia-Ukraine war and the Sino-US geopolitical impact put more pressure on rubber prices.
According to the Ministry of Agriculture, Forestry and Fisheries, in 2022, Cambodia had more than 404,578 hectares of rubber plantations, of which the plantations in 315,332 hectares were ready for harvesting.
Malaysia, Vietnam, Singapore, and China are the main export destinations.
