Cambodia’s Rubber Export Revenue Surges to Over 213 Million USD in H1 2024
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Cambodia’s rubber export industry has shown remarkable growth, with revenue soaring to 213.3 million U.S. dollars in the first half of 2024. This marks an 8.6 percent increase from the 196.3 million dollars earned during the same period last year, according to a report released by the General Directorate of Rubber on Wednesday.
The Southeast Asian nation exported a total of 140,653 tons of dry rubber between January and June 2024, reflecting a slight increase of 1 percent from the 139,220 tons exported over the same timeframe in 2023. This growth in volume underscores the stability and ongoing demand for Cambodian rubber in the global market.
A significant highlight from the report is the rise in the average price per ton of dry rubber. During the first half of 2024, a ton of dry rubber was priced at an average of 1,517 U.S. dollars, which is about 107 dollars higher than the average price during the same period last year. Khun Kakada, the acting-director general of the General Directorate of Rubber, attributed this price increase to favorable market conditions and enhanced quality of the exported rubber.
Cambodia’s rubber is primarily exported to major markets including Malaysia, Vietnam, Singapore, and China. These strong trading relationships have played a crucial role in the consistent demand and growth of the country’s rubber export sector.
As of the report, Cambodia has cultivated rubber trees across a vast area of 407,172 hectares. Out of this, 320,184 hectares, or 78.6 percent, have rubber trees that are mature enough to be tapped, ensuring a steady supply of high-quality rubber for export.
The future looks promising for Cambodia’s rubber industry, with continuous improvements in cultivation practices and expanding market reach. The government’s efforts to support and promote the sector are likely to further enhance the country’s position as a key player in the global rubber market.
Source: Xinhua
