Cambodia's rubber exports up 91 pct in H1

Cambodia's rubber exports up 91 pct in H1

PHNOM PENH, July 28 (Xinhua) -- Cambodia has seen a 91 percent rise in dry rubber exports in the first half of 2014 as revenue from the exports increased only 3 percent due to global decline of rubber prices.

During the January-June period this year, the country exported 42,190 tons of dry rubber, up 91 percent from 22,120 tons over the same period last year, the latest figures from the Ministry of Commerce showed Monday.

The revenue from the exports was 75 million U.S. dollars during the first half of this year, up merely 3 percent from 73 million U. S. over the same period last year, the figures said.

Heng Sreng, chairman of Long Sreng International Co., Ltd. and owner of Boeung Ket Rubber Plantation, said the prices of natural rubber have steadily declined in recent years. A ton of dry rubber was sold at 1,800 U.S. dollars this month, down 28 percent from about 2,500 U.S. dollars in July last year.

Cambodian rubber has been sold to China, South Korea, Singapore, Malaysia and some European countries.

According to the Ministry of Agriculture, the Southeast Asian nation has planted rubber trees on the area of about 330,000 hectares in which some 60,000 hectares are old enough to be yielded.

http://www.globalpost.com/dispatch/news/xinhua-news-agency/140728/cambodias-rubber-exports-91-pct-h1