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Rubber exports to hit target

Number of visits: Date:2010-10-14 15:20

Abstract:

The rubber industry is expected to reach this year's export target of US$1.5 billion thanks

to a price hike in the world market, said the Viet Nam Rubber Association.


        The association said that rubber supplies from the world's larger exporters had reduced due

to unfav-ourable weather while the rubber demands of China and India, which are the world's

leading rubber importers, remained high. As a result, rubber prices on the global market

skyrocketed to $3,270 per tonne in September, up 250 per cent against the same period last

year.

The association's General Secrectary Tran Thi Thuy Hoa said that thanks to the price hike,

Viet Nam's rubber exports in the first nine months rose by 10.9 per cent in volume to

531,000 tonnes and doubled in value to $1.45 billion compared to the same period last year.

China was Viet Nam's biggest customer, accounting for more than 57 per cent of the

country's total rubber export value.

The Association of Natural Rubber Producing Countries predicted that the rubber output

worldwide this year would be around 9.5 million tonnes, an increase of 6.3 per cent over

2009. However, output is likely to decrease from 2011 as countries are forced to renew

their plantations and the price of rubber is expected to remain high as a result.

Viet Nam had rubber plantations stretching across 640,000ha at the end of last year and

exported around 680,000 tonnes worth over $1.2 billion to 70 markets. Under a Government

scheme, the country will have 800,000ha of rubber by 2020, producing 1.2 million tonnes

with an export turnover of $2 billion.

 

 


 

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