Government says it will ‘welcome’ any investor that wants to plant rubber as prices soar on signs of global recovery
(Picture A Thai worker stacks rubber sheets ready for shipment. Global prices for rubbber have soared in recent months on expectation of increased demand. BLOOMBERG)
There is high demand for rubber on the global market, so we need more investment in the sector."
The government is urging more investment in rubber plantations in Cambodia to take advantage of high prices on global markets.
Ly Phalla, director general of the General Department of Rubber under the Ministry of Agriculture, Forestry and Fisheries, said rubber was now fetching around $2,800 per tonne, up from $1,000 per tonne early last year.
“There is high demand for rubber on the global market, so we need more investment in the sector. Whoever wants to plant, we welcome them,” he said, adding that investment in rubber plantations has no negative impact on local farmers.
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