Vietnam’s rubber export to China via Mong Cai border gate has decreased both in price and volume since the beginning of this month, the Information Center under the Trade Ministry said.
Presently, export rubber prices are standing at CNY16,800-17,000 (US$2,196-2,219) a ton, down between CNY100-300 (US$13-US$39.2) a ton from early May.
The center said Vietnam exported around 300 tons a day in late May, down from 350-400 tons earlier that month.
However, the Ministry forecast that exports will rebound in the coming weeks because demand for rubber products from Chinese manufacturers is still growing.
Chinese importers currently need around 1,000 tons of latex a week, with prices standing between CNY9,500-11,300 (US$1,240-1,475) a ton. But Vietnam is now able to export only 350 tons a week.
In May last year, export prices of Vietnamese rubber at the Mong Cai border gate reached their highest level ever at around US$2,603-2,641 per ton, due to tight supply. At that time, Vietnam exported nearly 300 tons a week to China, much lower than the export volume in April, which reached nearly 400 tons a day.
In the past four months of 2007, China imported 112,362 tons, or 62.13 per cent of Vietnam’s total rubber volume, at an average price of US$1,799 a ton. The figures helped China hold its leading position in buying Vietnamese rubber. (Vietnam & World Economy)
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