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May 29, 2020

Rubber export income jumps by $17 mln in 2019-2020FY H1

Myanmar has exported rubber worth US$130.8 million as of 27 March in the current financial year since 1 October 2019, which shows an increase of $17 million compared with the corresponding period of the previous fiscal, indicated the data by the Ministry of Commerce.
The export income has increased in the current fiscal despite a slight drop in export volume against last year.
More than 104,000 tonnes of rubber was shipped to the external markets in the current fiscal year, whereas the export volume was over 118,500 tonnes in the year-ago period.

Workers working at a domestic rubber production in Yangon. file photo
Workers working at a domestic rubber production in Yangon. file photo

In early April, rubber prices range K1,000-1,900 per viss ( a viss equals to 1.6 kg) depending on quality and variety, as per data of the local rubber market.
An improvement in Myanmar rubber exports will be directly related to the price offered, according to the Myanmar Rubber Planters and Producers Association (MRPPA).
The volatile rubber price is related to global climate change, and government subsidy will be required for growers in need, said an official of the MRPPA.
Rubber is primarily produced in Mon and Kayin states and Taninthayi, Bago, and Yangon regions in Myanmar. There are over 1.6 million acres of rubber plantations in Myanmar, with Mon State accounting for about 500,000 acres, followed by Kayin State (270,000 acres), according to the MRPPA.
About 300,000 tonnes of rubber is produced annually across the country. Seventy per cent of rubber produced in Myanmar goes to China. It is also shipped to Singapore, Indonesia, Malaysia, Vietnam, Korea, India, Japan, and other countries.
At present, Myanmar is exporting only raw rubber sheets owing to lack of machinery and technology. Export rubber varieties include synthetic rubber, ribbed smoked sheet RSS 1,3,5, Myanmar Standard Rubber MSR-20, Technically Specified Rubber TSR-20, and Crepe Rubber.
The MRPPA has sought special rubber zones in the regions and states to produce value-added rubber and quality raw materials at the 15th regular meeting with private entrepreneurs, led by Vice President 1, which was held last year.
About 150,000 tonnes of rubber was exported in the 2017-2018 fiscal year. Myanmar shipped over 190,000 tonnes of rubber, with an estimated value of $250 million, to external markets in the 2018-2019 fiscal year, an increase of 41,000 tonnes which helped boost earnings by $60 million compared to the year-ago period, according to the data released by the Ministry of Commerce.—GNLM (Translated by Ei Myat Mon)

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