Rubber price at year high
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Along with the increase in the world rubber price and the dollar appreciation, the domestic rubber price has jumped to Ks700 (US$0.7) per pound, a year high, according to Myanmar Rubber Planters and Producers Association.
The rubber price had been falling for the past two years to Ks500-600 a pound.
“In the past, the price rose only for one or two days. Now it remains steady at Ks700 per pound. The farms will reap a windfall. But there are only 20 or 25 days left to harvest,” said Khaing Myint, the secretary of the association.
The world rubber price has recently risen from US$1,600 per tonne of RSS 3 type rubber to US$1,800.
“The problem is we are having a bad harvest this year. The output of a small farm dropped from 100 pounds to 60,” said a small-scale planter from Mon State.
Rubber farmers struggled to not make ends meet last year due to falling prices.
