KHMER NEWS TO ENGLISH: Cambodia earned over US$671 million from rubber and rubberwood exports to the international market in 2024, an increase of more than 36 percent compared to 2023, while rubber prices have also risen significantly.
According to a report by the Directorate General of Rubber of the Ministry of Agriculture, Forestry and Fisheries, from December 2024, exports of rubber and rubberwood products totaled US$671.68 million, an increase of 36.48 percent compared to 2023.
The above revenue was from rubber exports amounting to USD 666.25 million and revenue from rubber timber exports of USD 5.4 million.
The average price of rubber in the international market in 2024 is US$1,971 per tonne, an increase of US$634 per tonne or equivalent to 47 percent compared to 2023.
The report also said that the volume of rubber sold to the international market in 2024 was 338 000 tonnes, a decrease of 30 048 tonnes or equivalent to 8.16 per cent compared to 2023 and the amount of rubber timber sold was 25 157 cubic metres.
Director-General of the Rubber Department, Mr. Khun Kok, said that although the volume of rubber output exported to the international market in 2024 decreased slightly compared to 2023, for the practical aspect, the rubber output collected in 2024 has indeed increased.
For rubber products, in 2024 there will be approximately 407 209 tonnes, an increase of 15 410 tonnes, equivalent to 3.93 per cent compared to 2023.
He stated: "With the presence of local car tire manufacturers, in 2024, 3 factories have started to produce car tires and absorbed approximately 58,000 tonnes of domestic rubber for use as raw materials or approximately 4,800 tonnes in 1 day."
Vice Chairman of the Cambodia-China Chamber of Commerce Lo Vichit told Phnom Penh Post that the rubber market in the international market showed significant positive signs in 2024 as the growth in demand for rubber from car tire factories in Cambodia is also increasing.
He continued that if the number of tire factories continues to increase, the volume of Cambodian rubber exports to the international market will be able to continue to decline further.
He added: "The presence of local tire factories contributed to the decline in Cambodia's rubber exports to the international market last year.
According to the Directorate General of Rubber, as of 2024, Cambodia has a total rubber area of 425,443 hectares, up from 407,172 hectares in 2023.
Of which, the area under rubber was 330 259 hectares, equivalent to 77.63 percent of the total rubber area, and the area under maintenance was 95 184 hectares, equivalent to 22.37 percent.
The area of agro-industrial rubber was 223 122 hectares, equivalent to 52.44 percent, and the area of household rubber was 202 321 hectares, equivalent to 4756 percent.
In Cambodia, there are currently 6 tire factories in operation in the special economic zones of Swey Rieu, Sihanoukville, and Kratie provinces.
To contribute to boosting investment and exports of rubber to the international market, the Government of Cambodia at the end of 2023 decided to adjust the export tax rate of rubber products to the international market for 2024-2025 to encourage cultivation and support growers and exporters who have faced falling rubber prices for many years due to declining international demand.
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