Rubber price depends on model of supply and demand when harvest season ends

rubber1 mk
Labours are working at production of rubber sheeets.

Myanmar’s rubber is traded when the buyers and sellers find a price that they are willing to transact during the end of rubber latex collection season, according to Mawlamyine commodity wholesale centre.
Rubber harvesting season usually ends in August. The buyers and sellers agree on the right price when the natural rubber production declines this month.
On 1 July, the sundried rubber sheet was priced at K910 per pound and Ribbed Smoked Sheet (RSS 3) fetched K920 per pound in Mon State.
The rubber production rate usually drops at the end of harvest across the country. Consequently, the price slightly rose when the supply is pretty low.
Additionally, the production is found lesser during the heavy rainfall period. Also, the price depends on the model of supply and demand rather than the set price then.
Moreover, the exporters also purchase the rubbers that are stockpiled in the warehouses. The market price of an asset is determined by the forces of supply and demand at the present time.
According to the price survey of National Enlightenment Institute (NEI), rubber price also surged during June-August last year when the latex production declined. This being so, high rubber price is expected this year as well.
Mon State is the top producer of rubber in the country, accounting for over 240 million pounds of rubber per year, as per data of Mon State Agriculture Department.
Rubber is primarily produced in Mon and Kayin states and Taninthayi, Bago, and Yangon regions in Myanmar. As per 2018-2019 rubber season’s 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, according to the MRPPA.
Myanmar yearly exports over 200,000 tonnes of natural rubber to foreign countries, generating income of over $200 million.—NN/GNLM

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