Vietnamese Rubber Prices Bearing Consecutive Falls
The prices of Vietnamese rubber products have born consecutive drops in both local and foreign markets since early this month due to the withdrawal of many Chinese traders who hoped that prices of rubber will continue to fall.
Export prices of Vietnamese latex have decreased to VND35 million per ton (US$2,201) since early this month, down VND7-8 million (US$440-503) per ton compared to late of July.
Even though prices of other kinds of synthetic rubber at Mong Cai border gate have slightly increased in recent weeks, they are still much lower than that of late last month when they reached record.
The price of SVR 3L is now surpassing $2,306 per ton 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, prices of rubber at plantations are now falling to only VND28-29 million per ton ($1,761-1,823).
However, export price of Vietnamese rubber is expected to rise again to $2,400 per ton early next month due to increasing demand from large consumers like China, the US and EU.
Market
Vietnamese
