Mawlamyine, November (5)
The rubber farmers told Than Lwin Times that they were having trouble since the price of rubber had plunged while other costs, including input prices, were rising in Mon State after the military takeover.
The price of rubber peaked at 1,450 kyats per pound during the first week of October, which marks the start of the rubber season; however, on November 4, the price fell to 1,300 kyats per pound.
When compared with rubber prices at the beginning of the season and the current price of rubber, the price gap has decreased to 150 kyats per pound of rubber.
A rubber grower said that the drop in rubber prices was due to the delay in the flow of cash from abroad and the restrictions on the dollar.
Rubber farmers have been facing skyrocketing prices of inputs such as fertilizer and acid and high general costs since the military coup.
A rubber grower said that he bought and used inputs at high prices, but there was no profit due to a slump in rubber prices.
On the other hand, the rubber growers were unable to tap rubber because of the military council’s curfew after the coup, and as most of the skilled workers go to work abroad, they are facing labor shortages.
Also, most rubber plantation owners are not able to add fertilizer and other related inputs, so they expect a significant drop in rubber yield this season.
Mon State has more than 500,000 acres of rubber cultivation and earns millions of US dollars annually from the rubber sector.
But like other industries, the rubber industry in Mon State is suffering the impact of the military takeover.
News – Than Lwin Times