Rubber price drops 1,000 Kyat per pound within two months

November 9, 2022

HURFOM: At the start of September, 2022, a pound of rubber slices was priced at approximately 1,800 Kyat in Mon State, but in early November, 2022, the price dropped to 850 Kyat per pound.

Such a dramatic price drop within just two months is making it very difficult for rubber plantation owners and workers..

“It’s nearly impossible to sell rubber at the moment. Rubber traders don’t want to buy rubber. They just offer the lowest price. They’re also afraid of losses. The price of rubber is linked with global gold and dollar prices and the political condition, — we can do nothing,” said a rubber trader from Thanbyuzayat Township.

Normally, rubber prices increase sharply at the end of the rainy season.

“We typically get a good price at the end of the rainy season. But now, we don’t have much rubber and we are not able to start tapping rubber trees,” said a rubber plantation owner from Ye Township.

The current market price for rubber slices ranges between 700 to 950 Kyat depending on the quality.

“At the start of the harvest season, there is high demand for both rubber slices and latex. It’s a happy time for rubber producers. But now, we have to beg the buyers to buy our rubber. They’ve just bought a very small amount. But we have to pay high prices for basic commodities,” said a rubber plantation worker from Mudon Township.

Mon State has about 500,000 acres of rubber plantation and the main export markets are Thailand and China.

Written by Modinator · Filed Under News