According to foreign media reports on March 1, China is the main buyer of Myanmar rubber, accounting for 75% of its rubber exports. Since April 1, 2022, as of the beginning of February this year, Myanmar has delivered more than 200000 tons of rubber to the external market. In addition to China, Myanmar also exports rubber to South Korea, India, Malaysia, Indonesia, Singapore and Japan.
According to the official data released on February 14, Myanmar's goal in 2023 is to reach the rubber export target of 300000 tons.
According to the data of Mawlamyine Commodity Center, the price of sun-dried USS3 in early January was 1190 kyat/pound, and the price of RSS was 1210 kyat/pound.
An official of the Myanmar Rubber Producers and Growers Association said that the current price of USS3 soared to 1350-1400 kyats per pound. At the same time, in the international market, the price of rubber is about 1700 dollars per ton.
However, the current price has not reached the price record of more than 1600 kyats per pound set in the rubber cutting season in the third week of September 2022.
Myanmar's Mon State generally produces rubber, followed by the Delindai region and Karen State. It also exists in Bogu, Irrawaddy and Yangon regions, as well as Shan and Kachin states.
There are 1.64 million mu of rubber planting area in China. This year's rubber output is expected to reach 400000 tons. This lucrative rubber industry generates foreign revenue every year.
The global rubber demand and market supply as well as the rubber production in Southeast Asia are highly related to the rubber price situation in Myanmar.
