12 November 2014
The price
of Cambodian rubber sold locally and internationally is creeping back up after
a floor price was agreed upon last month by the region’s rubber representatives.
Cambodian
government officials and industry representatives have urged buyers and sellers
to ensure that the market price of rubber remains in line with the floor price
of $1.50 per kg agreed at an October meeting in Malaysia. The floor
price aims to revive an industry that has been badly affected by plummeting
global prices due to slowing demand from major importer China.
Managing Director
of local rubber exporter Long Sreng International Co., Ltd., said export prices
have increased from $1,450 per ton to the agreed $1,500 about 10 days after the
meeting in Malaysia.
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