http://www.investors.com/
via CAAI News Media
02/01/2010 09:42 PM ET
PHNOM PENH, Feb 01, 2010 (Xinhua via COMTEX) -- Rising demand in January pushed higher the price of rubber in Cambodia, up by 200 U.S. dollars a ton or seven percent higher, local media reported on Tuesday, citing Cambodia's Agriculture Ministry.
Ly Phalla, the ministry's general director for rubber, was quoted by the Cambodia Daily as saying that the price of rubber currently stands at 3,000 U.S. dollars per ton, up from 2,800 U.S. dollars in early January.
"I hope the price of rubber will continue to increase since there is more demand," he said, attributing the rise in sales to an economic recovery in international markets. Phalla also said that a lack of supply in the region was contributing to the higher prices, which fluctuated broadly as the global economy floundered in 2008.
But Phalla said he did not know how much rubber Cambodia currently produces.
Rubber prices hit a record high of 3,500 U.S. dollars per ton in July 2008 during the food crisis, before shrinking to about 900 U.S. dollars per ton early last year.
There are around 108,000 hectares of land under rubber cultivation now and the government plans to increase this area to 150,000 hectares by 2015.
Vietnamese rubber companies also plan to cultivate 100,000 hectares of rubber in Cambodia by 2012 on land concession.
Copyright 2010 XINHUA NEWS AGENCY
No comments:
Post a Comment