Rubber Export Price to China Surges Sharply
Export price of Vietnamese rubber via Mong Cai border gate to China has increased sharply since early of October, according to the Ministry of Industry and Trade.
The rubber is now traded at CNY16,450 (US$2,188) a ton, the highest level over the past two months.
The number of Vietnamese enterprises exporting rubber to China is 32 from 15 several months ago and the number of Chinese importers also doubled.
Currently, Vietnamese enterprises export around 600 tons of rubber to China daily.
The ministry forecast that rubber export to China will further rebound as Chinese banks offer more loans to local importers and Chinese enterprises will boost importing rubber to ensure sufficient material for tire production.
Rubber export to China will increase to 800 tons a day in the near months, the ministry said, predicting that export price will rise by CNY200 (US$26.6) and CNY350 (US$46.5) a ton.
As of middle of September, Vietnam exported around 502,000 tons of rubber valued at US$942 million, down 1.6 per cent on-year both in volume and value. (Vietnam & World Economy)
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