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Export Rubber Prices to China Mounting in April
29 | 09 | 2007
Export price of Vietnam’s rubber to China via Luc Lam border gate in Quang Ninh province will surpass 17,000 Yuan (US$2,200) per ton by the end of this month, due to high demand, the Trade Information Center under the Ministry of Trade forecast.
Currently, the price is standing at 16,700 Yuan or US$2,161 per ton.
The center said export volume to China via the border gate will also increase, to 500 tons per day from 300 tons some weeks ago.
Chinese enterprises are mobilizing capital to buy more rubber from Vietnam for fear of possible goods scarcity, the center said, adding that Vietnamese enterprises planned to reduce rubber export to China and increase export to EU countries.
Vietnam may earn US$1.3 billion from shipping around 780,000-820,000 tons of rubber abroad this year, at current average export prices of US$1,800-1,810 per ton, said Tran Thi Thuy Hoa, secretary general of the Vietnam Rubber Association (VRA).
But she said the initial target may change, depending on future price fluctuations and the country’s plan for temporary import and re-export of the material.
The country also plans to pour more investment into producing products like tyres and gloves, for domestic use and export.
Domestic consumption currently occupies 12 per cent of the country’s total output. (Vietnam & World Economy)

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