Myanmar pockets over US$3 mln from rubber export within week

Myanmar exported over 2,160 tonnes of rubber worth US$3.279 million via the sea route between 13 and 19 August.
It shipped 1,410 tonnes of rubber to China while over 120 tonnes to Malaysia and 630 tonnes to India. The rubber demand from Thailand is also high and they purchase the most volume of rubber via the border trade route. The rubber can fetch good prices for such procurement until the coming rubber season, the rubber business people considered.
This week, the country exported over 1,315 tonnes of rubber – 108 tonnes via the Myanmar-Thai border and 1,207 tonnes via the Myanmar-China border and earned over $1.832 million.
Therefore, the country shipped 3,480 tonnes of rubber through sea and border trade routes earning $5.11 million this week. The amount shows a decline of over 200 tonnes of rubber worth $0.301 million compared to last week.
The rubber price was only K1,100 per pound locally and the RSS3 rubber price was on the rise amid high foreign demand. It reaches K1,300 per pound in Mudon, Kyaikmaraw and Myeik. The country produces over 300,000 tonnes of rubber per year and the local consumption rate is only eight per cent, so a large volume of rubber is exported.
The rubber price is on the rise in local and foreign markets since the last rubber harvesting season to date. Therefore, quality rubber is planted in regions and states this year.
Currently, there are over 1.6 million acres of rubber plantation land in the country with 850,000 acres for harvesting.
Most of the country’s rubber trees are grown in Mon State as well as in Kayin State, Taninthayi, Bago, Yangon and Ayeyawady regions. The plantations have also been expanded in Shan and Kachin states and Sagaing Region. – TWA/GNLM