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Rubber forestry investment encouraged in Cambodia
06/01/2010
The government of Cambodia has stated that it will welcome any investors who want to plant rubber forests in the country as the price of rubber soars.
Director general of the General Department of Rubber, Ly Phalla, says that rubber is fetching as much as $2,800 a tonne, which is up from $1,000 a tonne just a year ago.
He told international investors, “there is high demand for rubber on the global market, so we need more investment in the sector. Whoever wants to plant, we welcome them.”
The price of rubber has increased as a result of the recovery of the US economy and the predictions that manufacturing may also be on the road to recovery this year.
Rising oil prices have also been cited as a possible reason as the two commodities are linked because oil can be used to make an alternative material to rubber.
Cambodia currently has 123,000 hectares of rubber forestry plantation and is expected to increase this to 150,000 by the end of the year, according to Phalla.
The Cambodian rubber forest industry has been further encouraged by news from the Association of Natural Rubber Producing Countries that natural rubber output is set to increase from countries including India, Vietnam and Indonesia.
Director general of the General Department of Rubber, Ly Phalla, says that rubber is fetching as much as $2,800 a tonne, which is up from $1,000 a tonne just a year ago.
He told international investors, “there is high demand for rubber on the global market, so we need more investment in the sector. Whoever wants to plant, we welcome them.”
The price of rubber has increased as a result of the recovery of the US economy and the predictions that manufacturing may also be on the road to recovery this year.
Rising oil prices have also been cited as a possible reason as the two commodities are linked because oil can be used to make an alternative material to rubber.
Cambodia currently has 123,000 hectares of rubber forestry plantation and is expected to increase this to 150,000 by the end of the year, according to Phalla.
The Cambodian rubber forest industry has been further encouraged by news from the Association of Natural Rubber Producing Countries that natural rubber output is set to increase from countries including India, Vietnam and Indonesia.
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