Cambodia has reported remarkable growth in its rubber export sector, with a total of 248,535 tonnes of rubber products exported, generating over $397 million in revenue during the first three quarters of 2024. This increase marks a 2.42 percent rise compared to the same period in the previous year, according to a recent report from the General Directorate of Rubber.
Khun Kakada, Acting Director General of the General Directorate of Rubber at the Ministry of Agriculture, Forestry and Fisheries (MAFF), highlighted that the revenue from rubber exports has surged by 23.44 percent compared to the first nine months of 2023. As of September 2024, rubber prices averaged $1,694 per tonne, reflecting a $38 increase, or a 2.32 percent rise from last year. Additionally, the average export value of rubberwood in September stood at $289 per cubic meter.
Currently, Cambodia has rubber plantations spanning 407,172 hectares, with 320,184 hectares—approximately 78.6 percent—of these being mature enough for tapping. The agro-industrial rubber area covers 226,840 hectares, while family-run rubber farms account for 180,332 hectares.
Lim Heng, Vice President of the Cambodia Chamber of Commerce (CCC), stated that the upward trend in rubber prices is accompanied by increased domestic production and export activity, leading to higher profits for local farmers. He expressed optimism regarding future demand, particularly with the operation of three tire factories and potential plans for additional facilities, which are expected to boost local rubber consumption.
In November, Cambodia will celebrate the 100th anniversary of its oldest rubber tree and host the first national rubber tapping contest at the Chup Rubber Plantation in Tbong Khmum province. This plantation is home to the world’s largest collection of century-old rubber trees, with 448 trees occupying an area of approximately 14 hectares. The event aims to highlight Cambodia’s long-standing history in rubber cultivation and promote awareness of the country’s rubber products on both national and international stages.
#ITCNewsUpdates #BreakingNews #NewsUpdate #CambodiaRubber #InternationalTrade #ExportGrowth