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Vietnam Expects Better Rubber Export Later this Year
25 | 07 | 2007
Vietnam exporters expect to see better rubber export, both in volume and price, in the rest of 2007, after witnessing decreases during the first months this year due to falling world price.
According to Trade Research Institute, world natural rubber output will increase by 3 per cent in 2007 and 4.5 per cent in 2008. Thailand’s output is expected to increase by 2.1-3.8 per cent, Indonesia 0.9 per cent and Malaysia 4 per cent.
Vietnam is expected to ship roughly 780,000-820,000 tons of rubber in 2007, up from 697,000 tons last year.
Meanwhile, China’s consumption is forecast to increase by 9 per cent in 2007 and 8 per cent in 2008. Growth figures are 4.7 per cent and 2.2 per cent for the US and EU, respectively.
Vietnam exported $254 million worth of rubber in the first three months of the year, representing a 5.6 per cent decrease in turnover and 9.8 per cent in quantity compared to the same period of 2006.
The decrease in export turnover has been attributed to falling price on the Asian market in the last three months, despite short supplies as Thailand, the biggest rubber exporter, and Indonesia, the second, tried to limit exports.
World price has been decreasing due to revaluation of the Japanese yen and the continued price decreases of blue chips. These factors have been worrying investors, who have decided to sell rubber, bringing rubber prices down.
Meanwhile rubber exports to China, which consumes 59.2 per cent of Vietnam’s rubber exports, were very low at 58,165 tons, worth $101.449 million, down by 10.67 per cent in quantity compared to the same period last year, while prices fell 9.5 per cent.
In fact, export prices saw considerable increases in the first two months of the year. For example, the average export price to China in February rose by $129 a ton over January, and 6.4 per cent over February 2006. The export price to Korea also rose by $245 a ton over January.
However, price increases ended in March at $1,750-2,100 a ton, giving way to price decreases in the Asian market.
Vietnamese rubber export price is now on the rise as China boosts buying rubber for processing, standing at $2,161 a ton at border gates in Quang Ninh province.
The price is forecast to continue rising in the coming month, and may even surpass $2,200 a ton by the end of April.
Vietnamese rubber exporters, thus, hope their business performance will imrove by the last months of the year, especially as export markets expand and exporters will not have to rely on only a few markets.
Vietnam exports rubber to six markets, including three new markets. China remains the biggest export market, consuming 59.2 per cent of Vietnam’s exports, followed by Korea and Germany. Additionally, Taiwan has become an export market with great potential for Vietnam. (Vietnam Agriculture, Trade)


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