Export prices of rubber products from Vietnam, the world’s fourth largest rubber producer and exporter, will jump to around US$1,750-2,100 per ton during this April from US$1,690-1,710 in March and continue to rise in several months later, according to predict of the Vietnam General Rubber Corporation (Geruco).
Geruco said a serious shortage of natural materials, coupled with a significant increase in demand for natural rubber in general, and Vietnamese rubber in particular, from large foreign consumers like the US, France, South Korea, Japan, Brazil, Achentina and China is the major reason for the price hike.
Presently, export prices of SVR3L rubber via northern Quang Ninh province’s Mong Cai border gate have reached record level at nearly $2,100 per ton, up 22% over that early this year, while export prices of latex have been offered at $1,207-1,316 per ton.
Export prices of SVR10 rubber via Mong Cai border gate also sharply increased to $1,900 per ton from $1,500-1,600 level at early this year.
Average export prices of Vietnamese rubber products to China, who consumes more than 60% of Vietnam’s total rubber export shipment, was estimated at $1,797 per ton in March, up $146 per ton against previous months.
With the predicted prices, Vietnam’s earning from rubber export to China may reach some $600 million for the whole year. Total export turnover, meanwhile, is expected at $838 million.
Vietnam is estimated to export 300-400 tons of rubber products to China per day during the first months of this year. But Geruco said export shipment will fall to around 100 tons in the late days of this month.
According to the latest report from the ministry, local rubber export enterprises have so far this year sold 152,000 tons of rubber worth $237 million, representing an on-year rise 39% in volume and 86% in value.
Vietnam & World Economy
Vietnamese
