With increasing demand from abroad, the price of rubber is on the rise at Ks1,000 to Ks1,010 per pound, Mon State rubber entrepreneurs said.
The price of Ribbed Smoked Sheet Type 3 (RSS- 3) rubber was between Ks800 and Ks850 per pound last month. The current rubber price has risen up to Ks1,010 per pound.
The RSS-3 rubber fetched around Ks1,800 per pound in 2011, but the price then began a downward trend, dropping down to around Ks550 to Ks600 per pound.
To maintain the price on the rise, quality needs to be controlled so that Myanmar’s rubber meets the export market’s criteria. However, the quality of Myanmar’s rubber is inconsistent, merchants said. A high price is offered when the rubber is of high quality, said a rubber merchant.
Myanmar exported its rubber to China, Japan and Malaysia. Over 80,000 tonnes of rubber are annually exported, according to Myanmar Rubber Planters and Producers Association.
Source: Global New Light of Myanmar
