The Vietnam Rubber Group (VRG) said export prices of Vietnamese rubber have surpassed US$2,200/ton, the highest prices so far this year.
The VRG chairman, Ho Xuan Hung, said at the Association of Natural Rubber Producing Countries (ANRPC)’s annual rubber conference in Ho Chi Minh City on Nov. 4.that Vietnam is likely to earn more than US$1.1 billion from exporting 700,000 tons of rubber this year.
He said Vietnam will have 700,000 hectares of rubber in 2010, and 800,000 hectares in 2015, adding that by the end of2009, the country will plant an additional 37,000 hectares.
The country has grown nearly 30,000 hectares in Laos and 2,000 hectares in Cambodia.
The Vietnamese Government is trying to stabilize natural rubber prices as exporters may face falling demand and difficulties in the coming years.
Apart from making active preparations to be admitted to the International Tripartite Rubber Council, Vietnam will let domestic businesses, especially the Rubber Industry Group, buy between 100,000-200,000 tons of rubber for stockpiling when the price goes down, he noted.
Vietnam plans to focus on developing a number of industrial products from latex in the coming decade and is willing to cooperate with other ANRPC members in manufacturing such products.
The nation is also interested in building plants to manufacture other industrial products from natural rubber materials through joint ventures or cooperation. The Vietnamese Government offers a number of land lease and preferential tax policies to attract foreign investment in this field.
The ANRPC conference assessed the global rubber supply and demand, the development of the natural rubber industry and discussed measures to overcome difficulties due to the global economic downturn. (VNA, Liberated Saigon)
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