International experts and Cambodian officials have expressed confidence that
the rubber market and revenues would rise significantly in the years to come,
local press reported yesterday.
Cambodian Deputy Prime Minister Sok An told the Third ASEAN Rubber Conference
that the market price for natural rubber has sky-rocketed over the last six
years from 500 U.S. dollars per ton in 2001 to around 2,000 U.S. dollars per ton
in 2007, the Cambodia Daily newspaper reported.
Natural rubber prices should remain strong so long as oil prices petroleum
being used to create synthetic rubber continue to be high, Sok An was quoted by
the newspaper as saying.
Cambodia has 500,000 hectares of land with soil conditions ideal for rubber
trees, he said.
"We have potential with the land, but we have not used it well," he added.
Cambodia currently has around 70,000 hectares devoted to rubber cultivation,
but substantial expansion of production is expected, Teng Lao, the secretary of
State at the Cambodian Agriculture Ministry in charge of rubber, was quoted as
saying.
"Our estimate for 2015, the planting areas in total can be up to 150,000
hectares, and production will be 150,000 tons," he said.
Hidde Smith, the secretary general for the secretariat of the UK-based
International Rubber Study Group, said rubber prices will continue to increase
due to rising demand for car tires in Europe, China and India.
Around 400 rubber experts, producers, buyers and sellers gathered here for
the three-day conference, which ends Saturday, the newspaper said.
According to a recent study by the Association for Rubber Development in
Cambodia, Cambodia exported 60,000 tons of natural rubber last year at a value
of 83 million U.S. dollars, accounting for less than one percent of the rubber
produced globally, it said.