In January 2024, Cambodia's rubber industry witnessed a significant surge in revenue, raking in nearly $60 million from the sale of rubb...
In January 2024, Cambodia's rubber industry witnessed a significant surge in revenue, raking in nearly $60 million from the sale of rubber products. The report released by the General Department of Rubber unveils remarkable figures that underscore the sector's robust performance.
The report indicates that revenue from rubber exports during January 2024 amounted to a staggering $59,027,928, accompanied by a total export volume of $88,825. This surge in earnings reflects a promising trajectory for Cambodia's rubber sector, highlighting its growing significance on the global market.
During the same period, the price of rubber stood at $1,423 per tonne, marking a modest increase of 1% compared to the previous year. Additionally, the export price of rubber wood was recorded at $204 per cubic meter. These price dynamics signal stability and potential for further growth within the industry.
It's noteworthy that Cambodia boasts a total rubber area spanning 407,172 hectares, with 79% allocated to rubber cultivation and the remaining 21% designated for maintenance purposes. This comprehensive overview underscores the nation's commitment to optimizing its rubber resources efficiently.
Comparing the figures with the preceding year, Cambodia's earnings from rubber sales in 2023 amounted to approximately $537.9 million, showcasing a notable increase of $6.2 million, equivalent to 1.2%, from 2022. This upward trajectory signifies steady progress and resilience within the sector despite global economic challenges.
In conclusion, Cambodia's rubber industry continues to thrive, with January 2024 marking a significant milestone in revenue generation and export performance. With stable prices and strategic resource management, the nation is poised to further solidify its position as a key player in the global rubber market.
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