Rubber market sales stable despite high price

The export market of rubber is stable in spite of the current high price, which resulted from the rise in the global rubber price, businessmen said. Over 80 per cent of rubber production in Myanmar is slated for export to China. Local rubber consumption is below 10 per cent. However, the rubber demand in the domestic market has risen because of increase in tyre production.

The export volume of rubber will rise only if the production rate from rubber farms is boosted. Most rubber farm owners sell the latex once it is produced. Only some of them store the rubber while waiting for the price goes up.
Over 80,000 tonnes of rubber are exported yearly and this year, export volume is expected to hit nearly 100,000 tonnes, according to the Myanmar Rubber Planters and Producers Association.

The price of raw rubber price is Ks840 per pound, which is about Ks140 higher than the price from the same period of last year, it is learnt from rubber entrepreneurs.

Source: The Global New Light of Myanmar

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