Siem Reap Times

Thursday, Oct 31, 2024

Rising Fortunes: Cambodia's Dry Rubber Industry Sees Robust Growth

Increased exports and higher prices mark a successful first quarter for Cambodia's rubber sector.
Cambodia's dry rubber industry is experiencing a notable rise, with exports reaching 85,428 tonnes in the first four months of 2024, a 3.7 percent increase compared to the previous year, as reported by the General Directorate of Rubber at the Ministry of Agriculture, Forestry, and Fisheries.

This period not only saw an increase in quantity but also a significant boost in revenue, generating USD 125 million, up 7.4 percent from USD 116.4 million in the same timeframe last year. The average price per tonne also rose to USD 1,465, reflecting a USD 51 increase from early 2023.

Cambodia's main export markets include Malaysia, Vietnam, Singapore, and China, with rubber cultivation spanning over 407,172 hectares. Notably, 320,184 hectares of these plantations are mature and currently being tapped, showing the vast potential for future production.

In a move to bolster the domestic market, Prime Minister Hun Manet recently called on all tyre factories in Cambodia to prioritize local rubber for their production needs. This initiative is expected to enhance the stability of the local rubber market and support Cambodian rubber farmers directly.

The tyre manufacturing sector in Cambodia has also seen substantial growth, with major companies like General Tires Technology, Sailun Group, and Qingdao Doublestar Group expanding their operations, which further solidifies Cambodia's position in the global rubber industry.

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