11.5 C
New York
Monday, October 18, 2021

Malaysia: Depressed Rubber Prices Only Temporary, Says Sabah Rubber Board

SIPITANG, June 27 (Bernama) — Rubber prices, which have dipped to a low of RM1.80 per kg, is only a temporary phenomena and the market for the commodity is set to recover soon, says Sabah Rubber Industry Board Datuk Ahmad Bujang.

He advised the 27,000 smallholders in the state to remain patient in facing the challenge as the government was doing its best to ease their burden following the depressed demand for natural rubber globally.

“We have requested for assistance from the government and to stabilise rubber prices.

“Some say rubber prices in Sabah is lower than that in Peninsula Malaysia and Sarawak. This is not true.

“The state government has given us grants that we can use to buy rubber at higher prices from the smallholders,” he said, adding that the board would purchase the commodity above market prices,” he told reporters after attending the annual general meeting of the Sipitang Farmers Organisation here today.

Asked if farmers would reduce natural rubber cultivation, Ahmad Bujan said this was a global phenomena and beyond the government’s control.

“However, he said the government would continue to cultivate rubber on two million hectares of land throughout the country.

“The current depressed market for rubber is only temporary. God Willing, prices will make an upturn and let’s be ready for it,” he added.

Ahmad Bujang also said the board was actively undertaking rubber cultivation on 128,000 hectares of land in Sabah and this would be stepped up from time to time.

Last year, the government allocated RM79 million for replanting purposes.

“There is no replacement or substitute for rubber. Synthetic rubber can only be used for specific uses as such, natural rubber still enjoys an international market,” he added.

— BERNAMA

Related Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Stay Connected

10,820FansLike
12,893FollowersFollow
756FollowersFollow
- Advertisement -

Latest Articles

Popular Articles