In the 11 months of 2022, Cambodia earned more than $453 million from the export of rubber latex and rubber wood, according to the latest report of the General Directorate of Rubber of Cambodia.

The total revenue in November from the export of rubber and rubber wood was around $57 million. Of this, rubber contributed $56,710,217, and rubber wood $288,203.

As of November 2022, Cambodia exported 46,119 tons of rubber, an increase of 8,551 tons, equivalent to 22.8 percent compared to the same period of the previous year. The export of rubber wood reached 24,989 cubic meters.

According to the report of the General Directorate of Rubber of Cambodia, the average selling price of rubber as of November 2022 was $1,229 per ton, a fall of $32 per ton, equivalent to 2.5 percent compared to the same period last year.

In 2021, Cambodia earned more than $611 million from the export of rubber and rubber wood. The shipment comprised 366,300 tons of rubber and 454 cubic meters of rubber wood.

Him Aun, head of the Ministry of Agriculture of Cambodia, Forestry and Fisheries’ General Directorate of Rubber, told Khmer Times, the rubber export market showed “considerable positive signs” over the 11 months of 2022. However, the fall in the price of rubber at the end of 2022 was due to the global economic situation affected by the Russia-Ukraine war and the Covid-19 outbreak.

“Crude oil prices play a leading role in the commodity market, so these may affect the prices of other commodities, which also include natural rubber, he said. “However, the decreased price does not affect the total revenue earned from exporting rubber,” said Oun.

Cambodia will strengthen product management and quality to attract investors to invest in the processing of finished products to increase value-added.

PM Hun Sen recently issued a new circular for the revocation of government measures that prevented the export of rubber and unprocessed rubber wood to foreign countries. Regarding the revocation of the circular on measures, the Ministry of Agriculture said the abolition is a careful consideration of the Prime Minister to provide options for rubber farmers for selling to high-priced market.

The Cambodian rubber market consists of China, Vietnam, Malaysia, Singapore, India, and the EU. Meanwhile, the Royal Government is trying to cooperate and coordinate the local market with car tyre makers in Svay Rieng province and Sihanoukville.