More than 76,594 tonnes of Myanmar’s rubber were exported to foreign countries in the past five months (April-Aug) of the current financial year 2023-2024, with an estimated value of US$94.48 million, according to the Ministry of Commerce.
Myanmar’s annual rubber production is estimated at 300,000 tonnes. Seventy per cent of rubber produced in Myanmar goes to China. It is also shipped to Singapore, Indonesia, Malaysia, Viet Nam, the Republic of Korea, India, Japan, and other countries. The rubber production in the FY 2022-2023 reached over 360,000 tonnes, more than 200,000 tonnes of which were shipped to foreign trade partners.
Myanmar aims to achieve rubber exports of 300,000 tonnes in the current 2023-2024 financial year beginning 1 April, as per the association.
Global demand for rubber, rubber production in the Southeast Asian nations and the market supply are contributing factors to Myanmar’s rubber prices.
The rubber price in Mon State, a major rubber-producing state in Myanmar, is related to those factors as well, the traders elaborated.
Rubber is commonly produced in Mon and Kayin states and Taninthayi, Bago, and Yangon regions in Myanmar. As per 2018-2019 rubber season data, there are over 1.628 million acres of rubber plantations in Myanmar, with Mon State accounting for 497,153 acres, followed by Taninthayi Region with 348,344 acres and Kayin State with 270,760 acres.
Myanmar bagged more than US$449 million in revenue in rubber exports in the 2020-2021 FY and $264.442 million in the 2019-2020 FY. — NN/EM
