CAMBODIA: 2011 rubber prices surge 132% on demand

Cambodia’s 2011 rubber exports and export prices grew by 55% and 131% respectively. The data shows rubber exports last year totaled 46,727 tons, compared to 30,040 tons in 2010. Export prices also rose to $200.9 million from US$86.76 million in 2010. Last year’s surge was primarily due to rising foreign demand and larger production hauls. The world’s demand for rubber in 2012 is predicted to exceed that in 2011 by only 5.5% due to a recovering Cambodian economy and slowed production in other fields. Currently, one tone of rubber fetched about $3,300 on the market. Rubber prices had increased for the first nine months of 2011. The Cambodian government is drafting policies concerning the production and processing of rubber, as well as developing plans to increase rubber exports.

(The Phnom Penh Post)

Advertisements