Rubber price stays on rise, hit over K900 per pound

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Rubber is primarily cultivated 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 amounting to for 497,153 acres, followed by Taninthayi Region 348,344 acres and Kayin State with 270,760 acres.

Rubber prices constantly rose and jumped to over K900 per pound, Mawlamyine Commodity Depot data indicated.
Natural quality rubber was priced at K710 per pound while the ribbed smoked sheet (RSS) hit K720 per pound in late January 2021. But it soared to K930 per pound for natural quality rubber and K940 per pound for RSS currently.
According to National Enlightenment Institute (NEI) last year’s Myanmar rubber analysis data, the price of rubber has risen as rubber production has declined in the off-season in June, July and August.
This is the reason why the rubber prices are likely to rise this year’s rubber off-season.
Further, another reason for the increase in rubber prices this year is raising demand for rubber from international countries to produce rubber gloves needed to prevent COVID-19 disease.
Presently, there is steady demand for rubber from China and Thailand.
Mon State has the largest sown acreage of rubber in Myanmar with the production of over 240 million pounds of rubber, according to the 2020 official statistics of Mon State Agricultural Department.
Rubber is primarily cultivated 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 amounting to 497,153 acres, followed by Taninthayi Region 348,344 acres and Kayin State with 270,760 acres, according to the MRPPA.
Besides, about 300,000 tonnes of rubber is produced annually across the country. Seventy per cent of rubber made 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 annually exports over 200,000 tonnes of raw rubber to foreign countries generating over $200 million.—NN/GNLM

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