Increasing demand for rubber of Chinese enterprises has pushed up export price of Vietnamese rubber to this neighbor, after a fall for a long time, the Ministry of Trade said.
Presently, Vietnam is exporting SVR3L rubber to China at CNY15,600 (US$2,062) a ton, up CNY1,400 (US$185) a ton compared with early July.
Number of Chinese enterprises importing Vietnamese rubber also increased from 14 to 32.
Vietnam is now shipping around 450 tons of rubber to China daily. The export volume is forecast to continue to soar to 600 tons in the near weeks due to higher demand from China. At that time, the price will jump to CNY16,000 (US$2,115) at on, the ministry said.
Meanwhile, demand for latex is around 1,000 tons a week. The export price is standing at CNY10,800 (US$1,428) a ton.
Vietnam shipped exactly 291,000 tons of rubber in the first half of 2007, raking in US$547 million, up 6 per cent on year in value, website of the Ministry of Trade reported.
The Ministry of Agriculture and Rural Development said export volume to China decreased by 13 per cent in volume against that of last year but the country is still the biggest importer of Vietnamese rubber, occupying 63 per cent. Followings are South Korea, Taiwan and Germany, accounting for 4-5 per cent each.
In the first half of 2006, Vietnam’s export of SVR3L rubber increased by 5.8 per cent in volume and 8 per cent in value on year, to 112,600 tons worth US$227.86 million.
Vietnam exports its rubber to 55 countries. Among them, China consumed 75,500 tons (67 per cent), valued at US$151.6 million, up 4 per cent on year in volume and 4.63 per cent in value. Export price of SVR3L to China reached US$2,007 a ton, up US$12 a ton compared with the same half of 2006. (www.vra.com.vn, www.vinanet.com.vn)
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