According to a report from the General Directorate of Rubber, Cambodia experienced a 3.5 percent increase in rubber exports, reaching 242,304 tons of dry rubber in the first nine months of 2023. This marks a growth from the 234,100 tons exported during the same period last year. However, revenue from rubber exports during the first three quarters of this year declined by 9.8 percent, amounting to $320.5 million compared to $355.6 million in the previous year.
Him Oun, the director general of the General Directorate of Rubber, stated that the average price of a ton of dry rubber during this period was $1,323, representing a decrease of $196 compared to the previous year. Cambodia primarily exports rubber to Malaysia, Vietnam, Singapore, and China, focusing on these Southeast Asian markets.
The report also highlighted Cambodia’s significant rubber planting efforts, with rubber trees covering a total area of 404,578 hectares. Of that area, 78 percent, equivalent to 315,332 hectares, is deemed mature enough to be tapped for rubber production.
While this year’s rubber export revenue has decreased, the increase in export volume signals continued demand for Cambodia’s rubber resources. The country’s sustained efforts in rubber tree cultivation have resulted in a substantial area of mature trees, which contributes to the overall production capacity of the industry.
Cambodia’s rubber sector plays a crucial role in driving economic growth and employment opportunities in the country. As a major exporter in the region, Cambodia’s rubber industry continues to adapt to market dynamics, explore new opportunities, and strengthen its partnerships with key trading partners to maximize its potential in the global rubber market.
Source: Xinhua
