Myanmar bags US$116 mln from rubber exports in 7 months

Myanmar shipped more than 94,435 tonnes of rubber to foreign countries as of 3 November in the current financial year 2023-2024, beginning 1 April, with an estimated value of US$116.79 million, according to the Ministry of Commerce.
Myanmar’s annual rubber production is forecast to be around 300,000 tonnes this FY.
The prevailing prices are K1,640 per pound of Ribbed Smoked Sheet Local 3 and K1,620 for sun-dried rubber. Global demand for rubber, rubber production in the Southeast Asian nations and the market supply contribute to Myanmar’s rubber prices. The traders elaborated that the rubber price in Mon State, a significant rubber production state in Myanmar, is closely tied to those factors as well.
Seventy per cent of rubber produced in Myanmar goes to China. It is also shipped to Singapore, Indonesia, Malaysia, Viet Nam, the Republic of Korea, India, Japan, and other countries.
Rubber is commonly produced in Mon and Kayin states and Myanmar’s Taninthayi, Bago, and Yangon regions. As per 2018-2019 rubber season data, there are over 1.628 million acres of rubber plantations in Myanmar, with Mon State accounting for 497,153 acres, followed by Taninthayi Region with 348,344 acres and Kayin State with 270,760 acres.
Myanmar bagged more than US$449.102 million in revenue in rubber exports in the 2020-2021 FY.
The rubber production in the last FY 2022-2023 exceeded 360,000 tonnes, and over 200,000 tonnes of rubber were shipped to foreign trade partners. — NN/EM