Rubber Export up 30.5 per cent in Jan-August

Vietnam’s export revenues from rubber sharply increased by 30.5 per cent in the first eight months of 2008 to US$1.041 billion, despite a slight fall of 9.6 per cent in volume to 383,000 tons, latest report from the General Statistics Office (GSO) showed.

 

The risen export revenues were mostly attributed by the high prices, local analysts said.

 

Export prices of Vietnamese rubber jumped to US$3,012 a ton in early August, up by US$181 a ton on month. Of which, export prices of SVR3L rose by US$28 a ton to US$3,238; prices of SVR10 rose by US$8 a ton to US$2,887, while prices of SVRCV60 hitting US$3,295 a ton, up by US$73 a ton.

 

The analysts forecast that Vietnam will export more than 300,000 tons of rubber from now to the year’s end, with revenues of US$800 million.

 

The earning will help Vietnam fulfill its target at US$1.7 billion from rubber exports in 2008, up 21.6 per cent on year.

 

But the country’s plan to export 750,000 tons of rubber may be infeasible because of decreasing production output.

 

According to the General Customs Department, rubber exports to China via Mong Cai border gate ware averaging at 300 tons daily, while last year’s volume was nearly 500 tons daily.

 

The analysts said the exports will rebound in the fourth quarter of 2008 thanks to high demand from China, the biggest importer of Vietnamese rubber. (GSO Aug Edition, Vietnam Economic Times)