Vietnam is expected to rake in US$261 million from exporting 162,000 tons of rubber products in the first quarter of this year, up 50.9 per cent on year in value and 32.7 per cent in volume, the Government Statistics Office (GSO) reveals.
The figures were also reported to make up for 31.14 per cent and 26 per cent of the country’s export targets in terms of value and volume, which are set at US$838 million and 600,000 tons, respectively.
In March alone, GSO shows that the country secured around US$91 million worth of 55,000 tons of rubber product export, registering on-month increases of 9.89 per cent in value and 10.9 per cent in volume.
Soaring export prices of Vietnamese rubber products are mostly attributed to the significant increase in export value, said the Vietnam General Rubber Company (Geruco), explaining that high demand for latex is the major reason pushing the prices up.
Presently, export prices of Vietnamese rubber products are standing at more than US$2,025 per ton, up US$63.3 against early this month.
Meanwhile, total rubber output of the first quarter is averaged at 45,000 tons thanks to favorable weather condition, accounting for 15 per cent of the total yearly plan.
At present, the country’s rubber products have been made available in some 45 countries and territories worldwide with China, US, EU, Japan and South Korea emerging as the largest importers.
Besides, Brazil and Argentina are also going to import rubber products from Vietnam, Geruco said, adding that Argentina has showed its desire to become a consumption dealer for Vietnamese rubber in the South America market.
Vietnam is expected to ship around 650,000-700,000 tons of rubber products abroad by 2010, fetching between USUS$880 million and USUS$960 million by the time.
To this end, the government has planned to expand the country’s total rubber area to 700,000 hectares by 2010 from the current nearly 500,000 ha.
GSO, Youth
Vietnamese
