Until March 2 of this fiscal year, Myanmar has earned US$ 179 million from the export of 0.136 million tonne of rubber, according to the Commerce Ministry.
Local rubber price is declining as despite a decline in rubber price in the global market. Currently, local rubber price is Ks 760 per pound, according to Myanmar Rubber Growers and Exporters Association.
During this year, the local rubber price hit a record high of Ks 850 per pound. Normally, the rubber price stands at around Ks 800 per pound.
The global rubber price has decreased from US$ 1800 to US$ 1500-1600 per tonne. Now the local rubber price is Ks 760 per pound.
Myanmar produces about 200,000 tonnes of rubber every year. Myanmar exports more than 90 per cent of rubber and use the rest. Myanmar’s rubber goes mostly to China. In addition, Myanmar exports rubber to Malaysia, Singapore, Indonesia, South Korea, Japan, Taiwan and India. – elevenmyanmar.com
