Vietnam is estimated to have exported 175 tons of rubber products in the first five months, earning US$245 million, on-year falls of 10.5 per cent and 41 per cent, the government’s General Statistics Office said.
The value and volume of rubber exports in May increased 59.4 per cent and 59.1 per cent on month to US$51 million and 35 million tons, the GSO said.
The decline is mostly caused by fewer exports to key importers of Vietnamese rubber products.
Vietnamese rubber is exported to 70 countries and territories, but the main markets are mainland China, South Korea, Taiwan, Singapore, Germany, the US and Japan. Rubber exported to China accounted for 60 per cent of the country’s total rubber export volume.
Tran Thi Thuy Hoa, general secretary of the association, said the export price of rubber in the world market was rising due to increasing demand and a current shortage of supply.
Rubber exports currently fetch US$1,500-1,600 per ton, the highest rate so far this year. However, this price is still US$700-US$800/ton less compared with the same period of last year.
The association had anticipated that this year’s supply and demand for rubber in the world market would be lower than that of last year.
Vietnam expects to export 700,000 tons of rubber this year and earn about US$1 billion, which would be significantly less than the US$1.6 billion earned last year, the Ministry of Agriculture and Rural Development said. (VNS, GSO May 2009)
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