Rubber exports set to soar

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VietNam News English - 34 month(s) ago 9 readings

Rubber exports set to soar

Rubber export volume this year could surge 14 per cent from last year to over 930,000 tonnes, the Ministry of Agriculture and Rural Development's Information and Statistics Centre forecast early this month.

Workers at Kon Tum Rubber One Member Co Ltd harvest rubber latex. Rubber export volume is expected to increase 14 per cent year-on-year to over 930,000 tonnes this year. — VNA/VNS Photo Hong Ky
HA NOI — Rubber export volume this year could surge 14 per cent from last year to over 930,000 tonnes, the Ministry of Agriculture and Rural Development's Information and Statistics Centre forecast early this month.

Earlier this year, the centre predicted the country would export roughly 830,000 tonnes of rubber in 2012.

The centre anticipated that export volume in the second quarter would total 149,300 tonnes, down from 258,000 tonnes in the first quarter, before surging significantly in the third and fourth quarters to nearly 271,230 and 296,300 tonnes, respectively.

General Secretary of the Viet Nam Rubber Association Tran Thi Thuy Hoa said that rising demand on the world market would contribute to the increase in exports over the next months.

After a reduction of 33.4 per cent in the first quarter, the price of rubber is starting to rise again thanks to increasing consumption demand in many large import markets including China, Malaysia and India.

China, which already consumes more than 57 per cent of Viet Nam's rubber, is expected to keep importing more to offset its decreasing domestic supply. Meanwhile, the market this year is expected to consume roughly 3.61 million tonnes of rubber, up 3 per cent over last year.

According to the Ministry of Industry and Trade, the price of rubber exported through the Mong Cai Border Gate in the northeastern province of Quang Ninh last week hit a five month high of 23,400 yuan (US$3,710) per tonne. Export volume also surged sharply, reaching roughly 1,500-1,700 tonnes per day, compared to roughly 900 tonnes in March. — VNS

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