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Saturday, October 23, 2021

Myanmar: Rubber exports up

Rubber exports have increased by around 50,000 tonnes during the two consecutive fiscal years as the country sees an increase in rubber production and are able to control illegal rubber exports, said Khaing Myint, general secretary of Myanmar Rubber Planters and Producers Association.

Myanmar: Rubber exports up

A rubber production business in Tanintharyi region.

In the past, the country exported 80,000-90,000 tonnes of rubber. Since 2016-2017 FY, the country’s rubber exports have reached more than 130,000 tonnes.

Till March 2 of 2017-2018 FY, the country earned US$ 179 million from exports of 136,000 tonnes of rubber, according to the Commerce Ministry.

Earnings from exports of over 75,000 tonnes of rubber amounted to US$ 218 million in 2012-2013 FY, 84,000 tonnes of rubber, US$ 196 million in 2013-2014 FY, 77,500 tonnes of rubber, US$ 112 million in 2014-2015 FY, over 88,500 tonnes of rubber, US$ 101 million in 2015-2016 FY, according to the Commerce Ministry.

Due to a decline in the rubber price in the global market, the current local rubber price is declining. The association has suggested that planters should grow high-yield rubber strains only and produce high-quality raw materials.

The country’s annual rubber production amounts to around 200,000 tonnes in total. The country exports more than 90 percent of rubber and consumes around 8 per cent with China as the major importer. Myanmar exports rubber to Malaysia, Singapore, Indonesia, South Korea, Japan, Taiwan and India.

Rubber is mostly grown in Mon and Kayin States, Yangon, Bago and Tanintharyi Regions. There are nearly 500,000 acres of rubber plantations in Mon State and nearly 270,000 acres in Kayin State. There are around 1,600,000 acres of rubber plantations nationwide.

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