PHNOM PENH, Dec. 3 (Xinhua) -- Cambodia's domestic rubber prices rose 44 percent in the past year, according to a report published Thursday by Phnom Penh Post.
The Post quoted Ly Phalla, director general of Rubber Department as saying that the Standard Malaysian Rubber 20 variety was up to 2,435 U.S. dollars per ton at the end of last month from 1,686 U.S. dollars per ton a year earlier as global demand improved.
"There is high demand for rubber in the global vehicle industry, especially from China, while production (globally) has fallen," he was quoted as saying and added that the recent rise in crude oil prices on global markets has also pushed up rubber prices.
Prices have recovered specially in the past five months, he said, following an average price of just 1,500 U.S. dollars per ton in the first half.
"Our rubber price has soared on the Chinese market due to high demand while other (producing) countries like Malaysia, Indonesia...were affected by the storms and flooding which damaged production," he said.
The Association of Natural Rubber Producing Countries (ANRPC) which Cambodia joined in September said that production among its 10 members fell 5.1 percent in the 12 months to September.
In 2008, ANRPC members produced over 9.13 million tons of natural rubber, but 2009 production is expected to be only 8.68 million tons.
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