Rubber Export Prices to Climb to New High in September

Export prices of Vietnamese rubber to China via Mong Cai border gate will soar to $2,400 per ton early next month thanks to high demand from neighboring Chinese processing enterprises, said the Ministry of Trade.

 

As Chinese restrictions have caused dozens of Vietnamese enterprises to shift their export away from rubber, the sharp reduction of rubber shipment volume to China has raised the export prices since early this month.

 

Presently, the price of SVR 3L is surpassing $2,306 per ton over last week while the price of SVR 20 is rising to $2,200 per ton from $2,056 early this month and SVR 10 is $2,193 from $2,068. Meanwhile, the price of latex is also soaring by $38 per ton to $1,805 over the time. 

 

The ministry also said that trade in synthetic rubber is rapidly surging as rubber factories at Mong Cai border gate’s areas boost their capacity to provide around 1,000 ton per day for exports to China.

 

Since early this month, China has loosed its restriction on rubber imports, raising total import volume from Vietnam by 100 tons to 200-250 tons per day. The total shipment amount once reached record at 1,300 tons daily in January of 2006.

 

Presently, around 40 Chinese enterprises are waiting for Vietnamese rubber imports via Mong Cai border gate.