Rubber farmers mull quality species as rubber price keeps climbing

Prices of rubber keep rising year on year in local and foreign markets and so the quality rubber plantation is expanded across the nation during this year.
As the rubber prices become higher, the low-quality rubber and a certain variety of rubber that are not suitable for the region are replaced with quality rubber. The people now mull over growing quality rubber and high-yielding rubber species as substitutes for them.
For this substitute, the governmental officials will support the rubber farm owners to earn foreign income.
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.
Currently, there are over 1.6 million acres of rubber plantation land in the country, with 850,000 acres for harvesting. The country produces over 300,000 tonnes of rubber annually. The local consumption rate is only eight per cent and the large export volume earns foreign income for the country.
Between 18 and 24 June, the country exported about 4,000 tonnes of rubber worth $6.155 million via the sea route. It has exported over 3,490 tonnes to China while 210 tonnes to India, 140 tonnes to Malaysia, 100 tonnes to Japan and 60 tonnes to Bangladesh.
During the same period, the country earned over $0.162 million from export of 160 tonnes of rubber – 125 tonnes via Myanmar-Thai border trade and 35 tonnes through Myanmar-China border trade.
It received over $6.317 million from exporting more than 4,170 tonnes of rubber via sea and border trade routes. It earned $0.385 million more from export of 150 tonnes, compared to last week’s export volume. — TWA/GNLM