Cambodia’s Rubber Export Valued at US$125 Million in First Four Months

Cambodia exported 85,428 tonnes of dry rubber in the first four months of 2024, an increase of 3.7 percent from 82,359 tonnes in the same period last year, a report of the General Directorate of Rubber at the Ministry of Agriculture, Forestry and Fisheries showed.

The Kingdom generated US$125 million from the dry rubber export from January to April 2024, up 7.4 percent from US$116.4 million recorded in the same period last year, it added.

Dry rubber costs averagely US$1,465 per tonne, US$51 higher than that during the first four months of 2023, stated the report.

The country exports the commodity mainly to Malaysia, Vietnam, Singapore, and China.

According to the report, Cambodia has so far planted rubber trees on a total area of 407,172 hectares, of which 320,184 hectares, or 79 percent, are old enough to be tapped.

Samdech Moha Borvor Thipadei Hun Manet, Prime Minister of Cambodia, has recently asked all tyre factories in the country to use domestic rubber as raw material inputs, creating a market for
rubber farmers.

The country’s tyre manufacturing sector has experienced massive growth in recent times, with three major players solidifying their presence, namely General Tires Technology (Cambodia) Co., Ltd., Sailun Group Co., Ltd., and Qingdao Doublestar Group.

Cambodia’s Exports to RCEP Countries Up 16 Percent in 4 Months

Cambodia earned over US$3.36 billion from exports to members of the Regional Comprehensive Economic Partnership (RCEP) in the first four months this year, up 16.2 percent from US$2.89 billion recorded in the same period in 2023.

The figures were shared by the Ministry of Commerce in a report released on Wednesday, adding that at the same time, the Kingdom imported US$7.83 billion worth of products from the RCEP countries, up 13 percent from US$6.93 billion.

Cambodian exports to RCEP countries accounted for 44.57 percent of the Kingdom’s total exports of US$8.82 billion in the four-month period, it pointed out.

Cambodia’s two-way trade with RCEP rose by 13.98 percent to US$11.19 billion, or 66.2 percent of the country’s total international trade of US$16.91 billion, stated the report.

Cambodia’s trade with RCEP countries has increased thanks to trade preferences under the mega-regional trade pact, said H.E. Penn Sovicheat, Secretary of State and Spokesperson of the Ministry of Commerce.

‘With almost zero
trade tariffs, exporters have been able to take advantage of the trade deal, resulting in increased exports and imports from Cambodia,’ he said.

The RCEP free trade agreement entered into force on Jan. 1, 2022. The regional trade pact comprises 15 Asia-Pacific countries including the ten Member States of the Association of Southeast Asian Nations (ASEAN) – Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam – and their five trading partners, namely China, Japan, South Korea, Australia, and New Zealand.

RCEP nations collectively represent about 2.2 billion people, or 30 percent of the global population, contributing US$26.2 trillion to the gross domestic product (GDP), which is 30 percent of the worldwide GDP. Member countries account for approximately 28 percent of global trade, according to the ministry.

Korean Company Interested in Waste-to-Energy Investment in Cambodia

A Korean delegation from HYUCK JIN Energy Plant Engineering and Defytime, led by Dr. Kol Pheng, Founder and President of Pannasastra University of Cambodia, are interested in investing in Cambodia in waste-to-energy project

The investment plan was exposed by the delegation in a meeting with H.E. Sun Chanthol, Deputy Prime Minister and First Vice President of the Council for the Development of Cambodia (CDC), at the CDC headquarters in Phnom Penh this morning.

On the occasion, the representative of HYUCKJIN Energy Plant Engineering presented H.E. Sun Chanthol about his company’s technology to generate at least 24 kilowatts of electricity a day from burning some 100 tonnes of waste.

For his part, the CDC vice president expressed welcome to the companies and all investors for the waste-to-energy project, and asked HYUCK JIN Energy Plant Engineering to submit their detail information on the project to the CDC for its facilitation to implement further procedures.

Source: Agence Kampuchea Presse

Cambodia Earns Over US$170 Million from Milled Rice Export in First Four Months

Cambodia shipped a total of 248,491 tonnes of milled rice to international markets in the first four months of this year, the Cambodia Rice Federation said in a report AKP received on May 8.

The country bagged over US$170 million from the rice export during the January-April period, it added.

The Kingdom’s rice was exported to 60 countries and regions around the world by 48 exporters, said the report, adding that major buyers of Cambodian milled rice during the said period included EU countries, China and its Autonomous Regions, and ASEAN members countries.

Rice varieties the country exported included fragrant rice, long grain white rice, parboiled rice, organic rice, and so on, the report pointed out.

In addition, Cambodia generated more than US$693 million in revenue from border-traded paddy rice of some 2.42 million tonnes during the four-month period.

In 2023, the Kingdom exported over 656,000 tonnes of milled rice worth US$466 million, marking a 3 percent growth in volume and 13 percent in value co
mpared with 2022.

The Cambodia Rice Federation has set an ambitious goal to export at least a million tonnes of milled rice by 2025.

Source: Agence Kampuchea Presse

Thai stocks closed down 3.04 points.

Bangkok, SET closed today at 1,373.33 points, down 3.04 points (-0.22%), trading value 42,288.84 million baht.

Stock trading today The index fluctuates sideways. By making the lowest point of 1,372.86 points, making the highest point at 1,379.04 points. As for securities, changes today increased by 226 securities, decreased by 238 securities, and remained unchanged by 190 securities.

Source: BERNAMA News Agency