Rubber prices plummeted 70% of exports to China
Recently, the Burmese Rubber Plant Producers Association Secretary-General Wu Kai Min said that due to the global economic instability, Burma rubber prices plummeted.
According to reports, the local rubber prices from April average of 1800-2000 US dollars per ton, down to 1,400 US dollars in May. Wu said that 70% of the local rubber is mainly used in automobile manufacturing. Automotive manufacturing demand for rubber to reduce, coupled with oil prices and the dollar exchange rate fluctuations, resulting in rubber prices plummeted.
In addition, the rubber production of Thailand to improve the production of high-quality rubber, but also the quality of low Burma rubber impact. According to the report, Burma's national rubber acreage is 1.6 million acres, mainly distributed in the southern provinces of Mengbang, Delingda and Pegu provinces, of which 70% are exported to China and the remaining 30% are exported to Singapore, Malaysia, Indonesia, Vietnam and so on. country.
Earlier reports said that as the rubber export prices continue to fall, the domestic rubber owners in Burma suffered a blow, many people will cut off the rubber tree when the firewood sold.