Rubber Prices on the Rise

In early May, exported rubber price climbed to US$1,550 per tonne from the rate of US$1,330 per tonne at the start of the year. Prices of SVR 3L amounted to US$1,600 per tonne. According to the Ministry of Agriculture and Rural Development, Vietnam has 640,000 hectares of rubber trees which turn out 680,000 tonnes per annum.

 

The rubber export is expected to generate US$1 billion for the Southeast Asian nation this year. In the first four months of 2009, Vietnam exported 150,000 tonnes worth US$200 million, down 7 per cent and 48 per cent year on year. The fall in export was attributed to weakened demand on global markets. Moreover, the slump in rubber prices on the world market also led to a drop in earnings.