Vietnam's Export Rubber Price Soaring
High demand from Chinese customers has pushed export prices of Vietnamese rubber to new highs during recent days, according to the Trade Information Centre under the Ministry of Trade.
Total demand from Chinese customers is estimated at around 1,000-1,300 per day while Vietnam is able to provide only 500-700 tons. Presently as many as 30 Chinese enterprises and tens of businessmen are waiting to import Vietnam’s rubber.
The ministry said price of Vietnam’ rubber is up by 1,300 Yuan (US$166.4) per ton compared with late December, noting that SVR3L is now selling for around 15,400 Yuan per ton (US$1,970).
Vietnam’s the world’s fourth biggest rubber producer, exported 697,000 tons of rubber worth nearly US$1.3 billion in 2006, mainly to China, South Korea, Japan, Germany and the US.
The country domestically produced around 550,000 tons of rubber last year and is expected to raise total production output to 570,000 tons in 2007, a slim increase compared with mounting demand in the world market. (Vietnam Economic Times, Labor)
Vietnamese
