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JAWA may expand rubber exports to S. Korea
Publicly listed plantation firm PT Jaya Agra Wattie (JAWA) is targeting a new contract for exports to South Korea, despite a downward trend in rubber prices since the beginning of this year that has disrupted rubber producersâ sales
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ublicly listed plantation firm PT Jaya Agra Wattie (JAWA) is targeting a new contract for exports to South Korea, despite a downward trend in rubber prices since the beginning of this year that has disrupted rubber producers' sales.
JAWA finance director Bambang S. Ibrahim told kontan.co.id that PT Haein Resources Co. Ltd., a Seoul-based company that engages in construction and agricultural equipment businesses, has expressed an interest in importing natural rubber from JAWA.
'[Haein] is interested because [the quality of JAWA's rubber] is good. But at the moment, [JAWA and Haein] have not yet signed a contract,' he said.
Bambang added that JAWA was not certain about when it would start exporting rubber to the South Korean company, although it was aiming to start the exports this year. 'I estimate that JAWA's exports to South Korea could reach up to 10 percent of JAWA's total export production each year,' he said.
JAWA produced 13,257 tons of rubber last year, up 28 percent from the previous year. The domestic market absorbs 77 percent of JAWA's rubber output, leaving about 3,048 tons for overseas destinations. JAWA exports rubber to China, India, Japan, Slovenia and the United States.
