The rubber export earnings increased by over USD $ 61 million during the over nine months of this fiscal year

During over nine months of this fiscal year, Myanmar earned over 220 million US dollars from the exports of over 0.17 million tons of rubber, according to an official of the Commerce Ministry.

From October 1 to July 5 of 2018-2019 fiscal year, the rubber export earnings hit 225.189 million US dollars.

Last year, the export earnings from exports of 135,982 tons of rubber reached 163.777 million USD.

This year, the rubber export earnings increased by over 61.412 million USD and the rubber export volume, by over 40,582 tons.  

Rubber is mainly grown in Mon and Kayin State. Rubber is also grown in Yangon, Bago and Tanintharyi Regions. There are nearly 500,000 acres of rubber plantations in Mon State and nearly 270,000 acres in Kayin State.

The country produces about 200,000 tons of rubber a year. More than 90 per cent of rubber are exported and the remaining eight per cent, are for domestic use. Myanmar mainly exports rubber to China, according to the Myanmar Rubber Growers and Producers Association.

Myanmar also exports rubber to Malaysia, Singapore, Indonesia, South Korea, Japan, Taiwan and India.

At the 15th meeting between the Private Sector Development Committee led by Vice-President-1 on March 7, Khaing Myint, secretary of Myanmar Rubber Growers and Producers Association submitted a plan to establish the rubber special zones in the rubber-growing regions and states, for the production of international-standard rubber raw materials and finished rubber products.

Rubber farmers and producers face difficulties in selling smoked rubbers as the prices of raw material rubbers are low.

(Eleven Media Group: https://elevenmyanmar.com/news/rubber-export-earnings-increase-by-over-61-million-usd )

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