Vietnam: Rubber Export Prices Hit Year’s Peak
Chairwoman of the Vietnam Rubber Association (VRA), Tran Thi Thuy Hoa, said that rubber export prices have beaten analysts’ forecast to hit year’s record at VND44 million-VND46 million/ton.
The price increase is resulted from decreased output in the world’s biggest rubber producers such as Thailand and Malaysia whose rubber plantations were damaged by prolonged rains.
Meanwhile, rubber demand is rising in EU countries, the U.S., China and Japan thanks to the economic recovery.
Vietnam exported 539,000 tons of rubber worth $823 million in the first ten months of 2009.
The country expected to reap a total of $1 billion from rubber export by the year’s end. (Liberated Saigon)
Vietnamese
