Rubber price falls from 2012

Rubber price falls from 2012

Thanks to seasonal demand, the price of rubber has increased from 2012’s year-end prices. But it was still slightly lower than at this time last year, a rubber-plantation owner said yesterday.

Mak Kimhong, president of the Cambodia Rubber Association and owner of the Chhop Rubber Plantation in Kampong Cham province, told the Post dried rubber prices had increased from about $2,700 a tonne in November and December to $3,100 a tonne this month.

Kimhong said it was common for the price to rise at this time of year, but it was still lower than in March, 2012.

“[International demand] always ups from February to April due to limited supply,” Kimhong said, but he was unable to account for why prices are lower than at this time last year.

In 2012, Cambodia exported 54,000 tonnes of dried rubber, up 16.6 per cent from 46,700 tonnes in 2011.

The total value of 2012 exports, however, dropped 21.2 per cent to $158 million from $201 million in 2011, according to figures from the Ministry of Commerce.

Ly Phalla, director-general of the department of rubber plantations, said supply was still outpacing demand be-cause of the recovering global economy.

Phalla said 280,000 hectares of land in 18 provinces were planted with rubber, but only about 50,000 hectares were ready for harvesting.

The International Rubber Study Group says global consumption of natural rubber is expected to rise almost six per cent this year.

phnom penh post