Intercontinental Phnom Penh
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Sri Lankan firm - Kotagala Plantation, a unit of Lankem Ceylon Plc, has invested in a rubber plantation in Cambodia. The plantation is about 15,000 hectare in size where Kotagala plans to plant rubber towards the end of financial year 2013-2014. The first crops are expected in the next six to seven years.
The investment is worth $12 million.
In Sri Lanka there is a dearth of land and labor for expanding large-scale rubber plantations; therefore, the company decided to invest in Cambodia. The Cambodian plantation will be about four times as large as the company's current cultivations in Sri Lanka.
The Sri Lankan rubber industry is no longer under the purview of the state management, thus allowing privately-owned companies to take charge of their strategic expansion plans to stay relevant in the competitive global market.
CMT's 4th RubberPLANT Summit, opening on 5-6 March 2014, in Phnom Penh, is pleased to announce that Mr. Sriyan Ajith Eriyagama, Executive Director for Rubber, Kotagala Plantations Ltd. has confirmed to speak on 'Plantation Investment in Cambodia: Challenges & Drawbacks'.
For more details visit the official website>>> contact Ms. Hafizah at hafizah@cmtsp.com.sg or call +65 6346 9218.
14 Feb, 2014
Cambodia's plans to become one of the biggest rubber exporters seems to be on track. The country's dry rubber exports have witnessed a steady growth in the last few months. In August 2013, Cambodia's Ministry of Commerce stated that the country's dry rubber exports have risen by 32 percent in the first six months of 2013 (Jan-June). In November 2013, the Ministry figures further revealed that in the first 10 months of 2013, Cambodia witnessed a surge of 46 percent in its dry rubber exports.
During the January-June period 2013, Cambodia exported 29,800 tons of dry rubber, up 32 percent from 22,620 tons over the same period last year while the exports stood at 62,915 tons during January-October 2013, up 46 percent from 43,100 tons over the same period in 2012. The steady growth in exports is revealed by the month wise break-up which shows that in October 2013 alone, Cambodia's dry rubber exports amounted to 6,700 tons, which generated USD 14.5 million.
The exports earned the country a total revenue of USD 146 million in the first 10 months of 2013, which marks a 16 percent increase from 2012, when USD 126 million was clocked.
The country now aims at achieving exports of up to 75,000 tons before the year ends. Most of Cambodia's dry rubber were bought by countries like Malaysia, Thailand, Vietnam, and China. In 2012, Cambodia exported 54,530 tons of dry rubber to these countries and earned USD 158 million.
Cambodia's rubber industry is on firm footing given that the country has 280,350 hectares of land under rubber plantation, and about 55,000 hectares of it are ready for production.
CMT's 2014 edition - 4th RubberPLANT Summit opens in Phnom Penh, Cambodia on 05-06 March, 2014 to explore the scope of emerging rubber exporters in Asia, including Cambodia, Sri Lanka and more.
For enquiries on registrations, contact Ms. Hafizah at hafizah@cmtsp.com.sg or call +65 6346 9218.
Read more>>>
Cambodia's rubber export up 32 pct in first half of 2013
Cambodia's rubber export surges 46 pct in 10 months
09 Jan, 2014
Sri Lanka is part of the Association of Natural Rubber Producing Countries (ANRC), which is an industry group of 11 countries, representing about 93% of the total natural rubber produced in the world. As of 2012, the world natural rubber production was estimated at 11.38 million tonnes while synthetic rubber stood at 15.09 million tonnes. Natural rubber demand is primarily fuelled by the production of vehicle tyres and gloves and Sri Lanka has turned into a preferred destination to source rubber for tyres.
Sri Lanka's current natural rubber market stands at USD 1.2 billion, but the country plans to increase this number to USD 3 billion by the year 2024. The Sri Lankan rubber industry is funded by the Asian Development Bank, which will go a long way in meeting these growth plans.
For more updates on the latest developments in the rubber plantation market, attend 4th RubberPLANT Summit on 3-4 March 2014 in Phnom Penh, Cambodia.
For more information about the event, contact Ms. Hafizah at hafizah@cmtsp.com.sg or call +65 6346 9218.
27 Nov, 2013