Myanmar ships 50,000 tonnes of rubber to foreign markets in Q1 FY2023-2024

Myanmar Rubber Planters and Producers Association (MRPPA) reported that approximately 50,000 tonnes of Myanmar’s rubber were exported to foreign countries in the first quarter (April-June) of the current financial year 2023-2024.
Myanmar has set a target to export 300,000 tonnes of rubber to external markets for this fiscal year.
During the monsoon season, rubber tapping operations are temporarily suspended, resulting in a halt in the rubber business. Currently, prices in Mon State are set at K1,630 per pound of Ribbed Smoked Sheet (RSS-1), K1,530 for RSS-3, and K1,550 for sundried rubber.
The rubber price in Mon State, a significant rubber production state in Myanmar, is influenced by global demand for rubber, rubber production in Southeast Asian nations, and market supply, according to traders.
Myanmar produces an estimated 300,000 tonnes of rubber annually, with 70 per cent of it being exported to China. The remaining portion is shipped to Singapore, Indonesia, Malaysia, Viet Nam, the Republic of Korea, India, Japan, and other countries.
In the previous financial year 2022-2023, Myanmar’s rubber production reached over 360,000 tonnes, with more than 200,000 tonnes exported to foreign trade partners.
Rubber is mainly produced in Mon and Kayin states, as well as Taninthayi, Bago, and Yangon regions in Myanmar. As of the 2018-2019 rubber season, Myanmar has over 1.628 million acres of rubber plantations, with Mon State accounting for 497,153 acres, followed by Taninthayi Region with 348,344 acres and Kayin State with 270,760 acres.
In the previous financial year 2020-2021, Myanmar generated revenue of over US$449 million from rubber exports. — NN/EM