Cambodia earned revenue of $228.5 million in rubber exports in the first seven months of this year, according to a report from the General Directorate of Rubber.
However, the revenue in the first seven months of 2023 is down 12.8 percent when compared with revenue of $262.2 million for the corresponding period in the previous year.
The country exported 170,968 tons of dry rubber during the period, an increase of around three percent from the same period in 2022, the report indicated on Wednesday.
Experts said the dip in revenues was due to the decrease in international rubber prices during the period.
“A ton of dry rubber averagely cost $1,337 in the first seven months of 2023, about $244 lower than that of the same period last year,” Him Oun, director general of the General Directorate of Rubber, said in the report.
The main export markets of rubber for the Kingdom exports are Malaysia, Vietnam, Singapore and China.
The country planted rubber trees in a total area of 404,578 hectares, in which the trees on 315,332 hectares, or 78 percent, are old enough to be tapped, the report pointed out.
Meanwhile, an earlier report indicated that Cambodia exported 139,220 tons of dry rubber in the first half of this year, an increase of 2.72 percent from 135,537 tons for the same period in 2022.
The country earned revenue of $187 million from exports of the commodity during January-June, a drop of 13.5 percent from $216.3 million from the corresponding period in the previous year.
Cambodia also earned $385 million from the exports of rubber and rubber articles in the first seven months of the year, an increase of 43 percent compared to the same period last year, according to the latest trade data from the General Department of Customs and Excise (GDCE).
The growth in exports is significant as, for the first seven months of 2022 Cambodia earned only $269 million from the exports of rubber goods.
The latest data also showed that for July 2023 alone, Cambodia earned $61 million from rubber exports compared to $41 million earned for the same month last year, registering an increase of 48.1 percent year-on-year.
However, compared to the previous month (June 2023) this showed a slight decline as Cambodia earned $63.76 million from rubber exports last month.
The country earned revenue of $187 million from exports of the commodity during January-June, a drop of 13.5 percent from $216.3 million from the corresponding period in the previous year.
Cambodia also earned $385 million from the exports of rubber and rubber articles in the first seven months of the year, an increase of 43 percent compared to the same period last year, according to the latest trade data from the General Department of Customs and Excise (GDCE).
The growth in exports is significant as, for the first seven months of 2022 Cambodia earned only $269 million from the exports of rubber goods.
The latest data also showed that for July 2023 alone, Cambodia earned $61 million from rubber exports compared to $41 million earned for the same month last year, registering an increase of 48.1 percent year-on-year.
However, compared to the previous month (June 2023) this showed a slight decline as Cambodia earned $63.76 million from rubber exports last month.
The data indicated that the rising trend in rubber exports from the country that started in the latter half of last year has continued into the January to July period this year as well.
The surge in rubber exports this year is also remarkable as Cambodia’s total exports showed a decline of 1.8 percent for the first seven months, mainly due to the slowdown in the exports of garments, footwear and travel (GFT) goods.
It may be noted that Cambodia earned $541.66 million from the export of rubber and rubber articles in 2022, recording a growth of 28.3 percent compared to the previous year.
Meanwhile, in July 2023, the global production of natural rubber (NR) witnessed a 2.1 percent growth, amounting to nearly 1.3 million tonnes, while global demand for NR posted a relatively faster growth at 3.2 percent to 1.3 million tonnes year on year.
Source : khmertimeskh.com