Export price of Vietnamese rubber will obviously surge in late this month when demand from China, the biggest importer of Vietnamese rubber, reaches highest level in the year, the Ministry of Industry and Trade (MoIT) predicted.
MoIT forecasted the price will climb to CNY11,000-12,000 (US$1,462-$1,595) a ton from current CNY10,800 (US$1,435) a ton.
In Sep, Guangdong and Guangxi markets alone need estimated 15,000 tons of rubber from Mong Cai border gate, the ministry said, adding that Vietnamese enterprises exported around 450 tons of rubber a day via the border gate last month.
Export price of Vietnamese rubber, in Sep last year, dropped by $1,000 a ton from Aug, to $1,900-$2,000 a ton, but they are still higher than this year’s price.
Decrease in export volume at falling export price so far this year has caused gloominess to Vietnamese rubber industry.
In the first months of this year, the country exported only 422,000 tons of rubber, earning $808 million, down 1.2 per cent on year in volume and 0.6 per cent in value.
Chinese enterprises several months ago contrived to pull export price of Vietnamese rubber down by spreading news that China is full of tire and the country will shift to using artificial rubber instead of natural rubber.
But in fact, China is estimated to have to import 1.75 million tons of natural rubber in 2007, up 0.14 million tons from last year, to ensure sufficient material for its factories.
Vietnam is expected to export 700,000 tons of rubber by the end of 2007, comprising 500,000 tons domestically produced and 200,000 tons imported from neighboring Laos and Cambodia. (Vietnam & World Economy)
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