Cambodia has seen a 29-percent increase in dry rubber exports in the first nine months, but revenues dropped 9 percent due to global decline of rubber price, the Ministry of Commerce said on Saturday.
During the January-September period this year, the Southeast Asian nation exported 67,514 tons of dry rubber, up 29 percent from 52,242 tons over the same period last year, the ministry said in a report.
The revenues from the exports stood at 113 million U.S. dollars, down 9 percent from 124 million U.S. over the same period last year, it added.
Heng Sreng, chairman of Long Sreng International Co., Ltd. and owner of Boeung Ket Rubber Plantation, said the price of natural rubber has declined sharply in recent years.
“The price has dropped globally,” he said, adding that a ton of dry rubber was sold at 1,600 U.S. dollars this month, down 38 percent from around 2,600 U.S. dollars last year.
Cambodia’s rubber has been exported to China, South Korea, Malaysia, Vietnam and European countries.
According to the Ministry of Agriculture, Cambodia has planted rubber trees on an area of 330,000 hectares.