Sunday, 20 January 2008

Rubber export turnover forecast to hit 1.5bn USD

VietNamNet Bridge - Vietnam is expected to rake in 1.5 billion USD from rubber exports this year due to growing demand for natural latex and increasing prices in the world market.

Le Quang Thung, President of the Vietnam Rubber Association (VRA), told a conference that was held in Ho Chi Minh City on January 18 to launch the association’s plans for 2008.

Thung said the price of exported rubber latex now stands at 41 million VND (roughly 2,560 USD) per tonne – the highest price to date.

The country has been eager to grow high-yield rubber varieties and apply new farming techniques in an effort to raise average output to 2.5 tonnes per ha in 2015 and 3 tonnes per ha in 2020 from the current 1.6 tonnes per ha.

At the meeting, participants agreed that in 2008 the association will focus on market research, helping local businesses improve product quality, and register national trademark protection for prestigious enterprises.

In addition, VRA will also increase trade promotion activities, send delegations abroad to inquire experiences, and seek opportunities to cooperate with foreign partners.

Vietnam , currently housing around 495,000 ha of rubber trees, plans to increase the acreage to 700,000 ha by 2010.

It has also grown hundreds of thousands of ha in Laos and Cambodia.The country shipped abroad 719,000 tonnes of rubber latex last year, earning some 1.4 billion USD, up 1.6 percent in volume and 8.8 percent in value over the previous year.

(Source: VNA)

No comments: