Myanmar bags US$22 mln in rubber exports to foreign markets in May

More than 18,000 tonnes of Myanmar’s rubber were shipped to foreign countries in May 2023, generating earnings of US$22 million, according to the Ministry of Commerce.
Myanmar exported over 14,860 tonnes of rubber worth $18.417 million by sea and over 3,330 tonnes of rubber worth $4.073 million through border channels last month.
Myanmar sent 11,530 tonnes to China, over 1,270 to India, 860 to Malaysia, 400 to Indonesia, 300 to the Republic of Korea, 260 to Bangladesh and 240 to Japan through seaborne trade. Additionally, Myanmar delivered 1,520 tonnes of rubber to Thailand and over 1,810 to China via cross-border points.
The volume of Myanmar’s rubber export in April was 11,190 tonnes so it indicated an increase of 7,000 tonnes in May compared to that of April.
The prices of rubber rebounded to above K1,400 per pound, with K1,470 per pound of sundried Local 3 and K1,490 per pound of Ribbed Smoked Sheet Local 3 in the Mon State’s market.
Myanmar’s rubber production is annually estimated at 300,000 tonnes. 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. Myanmar aims to export about 300,000 tonnes of rubber to foreign markets in the current financial year 2023-2024, according to Myanmar Rubber Planters and Producers Association. The rubber production in the last FY 2022-2023 reached over 360,000 tonnes and more than 200,000 tonnes of rubber were shipped to foreign trade partners.
Rubber is commonly produced in Mon and Kayin states and Taninthayi, Bago, and Yangon regions in Myanmar. 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. — NN/EM