Vietnam Recognized as Biggest Rubber Exporter to Russia

Vietnam, the world’s fourth largest rubber exporter, has taken the lead in supplying rubber products for Russia over the past few years with its annual shipment volume accounting for two thirds of Russia’s total rubber imports, according to the Vietnam Rubber Association (VRA).

 

The association said Vietnam’s rubber exports to Russia will soar to 30,000-40,000 tons in the coming years, remaining the major rubber provider for Russian enterprises.

 

In the past nine months of this year, Vietnam exported 15,304 tons of rubber worth $32.8 million to Russia, an on year rise of 17 per cent. Last year, Vietnam’s total rubber shipment volume to Russia reached 19,156 tons, up 27 per cent against 2004.

 

VRA also forecast that strong increases in world demand for rubber and a reduction in rubber exports from ASEAN countries will continue to push export price of Vietnamese rubber up through the end of this year and early next year.

 

The price of Vietnamese rubber is currently between US$1,900 - 2,000 per ton, up US$500 against last month but still much lower than several months ago when the price reached US$2,800 per ton.

 

The Ministry of Trade has recently warned local rubber exporters to reasonably adjust rubber shipment volume to China and to shift into other markets in order to keep export prices high.

 

Vietnam enterprises are estimated to export around 1,600 tons of rubber per day to China in the fourth quarter of 2006, mostly thanks to high yield.