Rubber price falls in Mon State

The price of rubber slightly declined in Mon State’s rubber market.


The price of rubber hit K1,385 per pound of sundried Local 3 and K1,405 per pound of Ribbed Smoked Sheet on 3 March. The prevailing prices have gradually moved down to K1,275 per pound of sundried local 3 and K1,295 per pound of Ribbed Smoked Sheet Local 3.


The figures indicated a de­crease of K110 per pound within two weeks.


Global demand for rubber, rubber production of the South­east Asian nations and the mar­ket supply are contributing fac­tors to the rubber price condition of Myanmar.


The rubber price in Mon State, a major rubber production state in Myanmar, is positively related to those factors as well, the traders elaborated.


Rubber is commonly pro­duced in Mon and Kayin states and Taninthayi, Bago, and Yan­gon regions in Myanmar. As per 2018-2019 rubber season data, there are over 1.628 million acres of rubber plantations in Myanmar, with Mon State ac­counting for 497,153 acres, fol­lowed by Taninthayi Region with 348,344 acres and Kayin State with 270,760 acres.


Myanmar’s rubber produc­tion is annually estimated at 300,000 tonnes. Seventy per cent of rubber produced in Myanmar goes to China. It is also shipped to Singapore, Indonesia, Malay­sia, Viet Nam, the Republic of Korea, India, Japan, and other countries.


Myanmar bagged more than US$449 million in revenue from rubber exports in the previous fi­nancial year 2020-2021.—NN/EM