Myanmar delivered more than 8,800 tonnes of rubber to foreign trade partners in September 2022, according to the Ministry of Commerce.
Approximately 2,460 tonnes of rubber worth US$3.572 million were sent by sea and over 6,350 tonnes of rubber worth $8.423 million were conveyed to neighbouring countries via the cross-border posts, with 5,380 tonnes of rubber to China and over 970 tonnes of rubber to Thailand.
Nevertheless, the export volume was down by over 3,500 tonnes compared to that of August.
Starting from the third week of September, rubber latex collection businesses have begun. The prices of rubber stood at K1,330 per pound for sundried Local 3 and K1,350 per pound for Ribbed Smoked Sheet Local 3, according to the Mawlamyine Commodity Centre.
Global demand for rubber, rubber production of the Southeast Asian nations and their market supply are contributing factors to the rubber price condition of Myanmar.
The rubber price in Mon State, a major rubber production state in Myanmar, is positively related to those facts as well, the traders elaborated.
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. About 300,000 tonnes of rubber is produced annually across the country.
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 bagged more than US$449 million in revenue in rubber exports in the previous financial year 2020-2021. — NN/GNLM
