Vietnam is estimated to earn US$600 million from selling rubber to China this year, up 15.6 per cent on-year and accounting for roughly 71.6 per cent of the country’s total rubber export revenue of some US$838 million in 2006, according to Ministry of Trade (MoT).
The ministry attributed the jump to the hike in export prices, which has been resulted from high demand from Chinese tire producers.
Local rubber exporting enterprises who sell around 300-400 tons of rubber products via the Mong Cai border gate per day said that they have enjoyed an on-year soar by around 33 per cent in export prices of rubber.
Export prices of rubber via the border gate are averaging at US$1,526 per ton. Meanwhile, latex has been selling for US$1,160 per ton, an increase of US$80 against the beginning of this year.
The prices even jumped to as much as US$2,210 per ton on occasion, said the ministry, adding that they, however, are predicted to continue to rise in the coming times as demand for rubber of huge importers such as China, France, Japan, South Korea and the US are higher and higher.
Vietnam now ranks fourth among the biggest global natural rubber exporters. China has been emerging as the largest importer of Vietnamese rubber and consumes as much as over 60 per cent on average of the country’s total rubber export volume.
According to the latest report from the ministry, local rubber export enterprises have so far this year sold 152,000 tons of rubber worth US$237 million, representing on-year rise 39 per cent in volume and 86 per cent in value.
Market, Vietnam Economic Times
Vietnamese
