09/26/2012

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CAMBODIA: Rubber up $100 a tonne in a week

The jump of $100 a tonne, or 4.2 per cent, comes after the price for rubber dropped in June from above $3,000 per tonne, according to data from the Cambodia Rubber Association.

Ly Phalla, director general of the Rubber Department of the Ministry of Agriculture, Forestry and
Fisheries, said the price of rubber has gone up, "but not so much as compared to 2011”.

He attributed the change in price to three things in particular: the economic recovery in the United States and China, the work of the International Tripartite Rubber Council (ITRC), and the rainy season.

"There are lots of factors affecting the price of rubber in Cambodia, such as the world price, recovery of the USA, EU and China and even the drop in petrol prices.  Now that we are in the rainy season supplies will be affected too. The three countries Malaysia, Thailand and Indonesia have been affecting stocks.”

Source: Daily "The Phom Penh Post", Phom Penh; 25 Sept 2012

(Syed Rashid Ali, Karachi, Pakistan)

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