Vietnam to Reduce Rubber Exports to China

The Vietnam Rubber Association (VRA) has recommended domestic enterprises limit exports to China following continuous falls of the export prices of Vietnamese rubber at the Mong Cai border gate, which hit hard local export companies.

 

Too much rubber has been shipped to the market, VRA said, adding that the reduction of rubber shipment to China would help dodge the sharp decrease of export prices.

 

VRA also said that China is poised to apply measures to limit rubber imports from Vietnam, pulling prices down and pushing many local export firms into loss.

 

Vietnamese rubber latex is now trading at VND37 million per ton (US$2,312), down VND2 million (US$125) compared to two weeks ago.

 

China, who accounts for around 68 per cent of Vietnam’s total rubber shipment volume, remains it as the biggest importer of Vietnamese rubber. In the first half of this year, Vietnam exported around 160,000 tons of rubber worth over US$300 million to China via Mong Cai border gate, up 200 per cent on year.
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