Rubber Export Down Slightly in 4 Months

Vietnam, the world’s sixth biggest rubber exporter, is estimated to ship 176,000 tons of rubber in the past four months, earning US$309 million, according to the latest report of the General Statistics Office.

 

The report showed the country’s rubber export decreased 8.4 per cent in volume and 4.2 per cent in value, compared with the same period last year.

 

The Vietnam Rubber Association (VRA) blamed the sag in rubber export for a longer than expected dry season, which decreased rubber output.

 

Presently, many local rubber exporters are speculating in product, waiting for higher export prices. “Local exporters know the export price of rubber is increasing while volume is falling. They have tried to cut exports now to wait for higher prices later,” said Tran Thi Thuy Hoa, secretary general of the VRA.

 

In the first quarter of 2007, the average price of rubber stood at US$1,715 a ton, up 5 per cent year-on-year. It rose slightly in Apr, at US$2,161 a ton in Luc Lam border gate in Quang Ninh province.

 

Hoa said Vietnam may earn US$1.3 billion from shipping around 750,000-800,000 tons of rubber abroad this year, at average export prices of US$1,800-1,810 per ton. (GSO Apr Edition)