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Price reaction: Rubber high spurs extra planting
Cambodia's rubber farmers are looking to expand plantations after the price of rubber hit more than US$4,000 per tonne this month.
Yesterday, April-delivery rubber on the Tokyo Commodity Exchange climbed as much as 2.1 percent to 375.3 yen per kilogram ($4,498 a tonne). The contract has climbed 13 percent this month as heavy rain in Thailand, Indonesia and Malaysia, the top three growers, disrupted tapping and lowered production.
Pouy Bun Eng, of Chamkar Leu district, in Kampong Cham province, said she expanded her 50 hectare plantation by another seven hectares last month.
“I am happy because of the current high price,” she said.
While Kampong Cham province’s Tbong Khmum Family Rubber Association President Thy Sambo said that he expected further increases in the price of resin this month. He warned, however that the crop took a long time to grow.
Ly Phalla, director of the Rubber Department at the Ministry of Agriculture, Forestry and Fisheries, said that high demand was pushing prices and the trend was set to continue.
Cambodia grows rubber on more 16.5000 hectares of land and produce more than 40,000 tonnes each year.
Phnom Penh Post
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