Rubber output could drop by about 25 percent due to Typhoon Yagi, which caused a delay in harvesting rubber latex, labor shortages and disease outbreaks in rubber plantations, according to U Khaing Myint, secretary of the Myanmar Rubber Planters and Producers Association.
Rubber plantations in Tanintharyi Region and Mon and Kayin states were hit by the disease during this year’s rubber-tapping season, and now the plants affected by the disease are being treated with pesticides, U Khaing Myint said.
It is expected that Myanmar’s rubber production could fall and that the export of rubber will be about 200,000 tons this fiscal year. As the world’s largest rubber producers, China, Laos and Vietnam, were also affected by Typhoon Yagi, there could be a decrease in rubber output this year.
On the other hand, tire companies are preparing to increase their production. Therefore, market analysts said that the global rubber price was at a high and stable rate due to the increase in rubber consumption and the decrease in production. Currently, the price of rubber is at 2,400 USD per ton. Due to the rise in global rubber price, the prices of domestic rubber are also rising with a range from 2,900 to 3,100 kyats per pound depending on the type.
