18 Jul, 2011
Vietnam rubber exports to top US$3bn in 2011
HANOI, July 18 Asia Pulse - Vietnam's rubber exports are
expected to total about 830,000 in 2011, earning over US$3
billion, with annual output projected to increase by 4 per
cent, according to the Vietnam Rubber Association (VRA).
Nguyen Viet Chien, director of the Centre for Information
and Statistics under the Ministry of Agriculture and Rural
Development, said rubber exports in June were estimated at
40,000 tonnes, worth $160 million. This brought the total for
the first half of the year to 274,000 tonnes at a value of $1.2
billion, up 80.3 per cent in value over the same period last
Economists predicted that rubber prices in the last six
month would not drop below US$4,000 per tonne, with major
producers such as Thailand, Indonesia, and Malaysia looking to
protect their rubber prices to avoid losses.
Global demand for natural rubber increased by 3.8-4 per cent
Tran Thuy Hoa, General Secretary of the VRA said global
rubber production would continue to increase, although levels
would not meet the demand and the price would remain high.
VIETNAM'S RUBBER EXPORTS EXPECTED TO EARN US$3BLN IN 2011
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increased demand would come mainly from China, accounting for
59.5 per cent of the country's total rubber exports.
The average price of rubber for export in the first six
months hit $4,410 per tonne, 60 per cent higher than last
Vietnam has the fifth largest area of rubber plantations in
the world, and ranks fourth in terms of exports.