According to the "Myanmar Global New Light" report, the Myanmar government will cooperate with rubber growers and producers associations to draft rubber industry legislation. Once the bill is enacted, the rubber center market can be established.
At present, the staff of the Rubber Growers and Producers Association of Myanmar are consulting the Ministry of Commerce and the Ministry of Agriculture, Livestock and Irrigation and other relevant departments to discuss the rubber bill. The drafting work has been initiated and has been revised several times. It is expected to be 2018. It will be implemented by the Parliament at the end of the year. U Khaing Myint, secretary of the Rubber Growers and Producers Association, said that the central market could only be established on the basis of the passage of the bill. The association is working with relevant departments to prepare for the establishment of the central market, especially in the selection, construction and search for skilled workers.
The rubber center market will be responsible for releasing the rubber market price, controlling price fluctuations, maintaining rubber quality, and planning to become the only trading place for Myanmar domestic and foreign companies to purchase rubber through competitive bidding. Daw Lin Lin Tun, a rubber farmer in Lebenberg, Karen, believes that the establishment of a rubber center market can control market prices, attract more foreign buyers, and encourage rubber farmers to improve rubber quality. The rubber center market needs to implement effective management of rubber processing leading enterprises, avoid market monopoly and maintain the healthy development of the rubber industry. Wu Kaimin also pointed out that the government guidance will play an important role in the establishment and operation of the rubber center market. The government needs to pay the seller's relevant funds in advance before the foreign buyer transfers the payment.
70% of the rubber in Myanmar will be shipped to China, and the rest will be shipped to Singapore, Indonesia, Malaysia and other countries in Southeast Asia. Myanmar's Mon State, Karen State, Tanitai, Yangon and Bago are the main rubber producing areas. The country's rubber plantations cover more than 1.67 million acres, of which only 700,000 acres produce natural latex.