Vietnam earns US$392 million from rubber export in two months

Thursday, 2017-03-02 09:48:47
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Vietnam exported an estimated 193,000 tonnes of rubber for US$392 million in the first two months this year.
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NDO/VNA – Vietnam shipped abroad an estimated 193,000 tonnes of rubber for US$392 million in the first two months of this year, up 25.4% in volume and 2.4 times in value against the same period last year.

According to the Ministry of Agriculture and Rural Development, the domestic rubber market recorded signs of recovery as rubber prices increased significantly in February this year in line with the world trend.

The average export price in January was almost US$1,922 per tonne, a year-on-year increase of 70.6%.

Enterprises attributed the situation to the recovery of oil prices in the world market, and the negative impacts of the weather, which made rubber output drop.

Domestic rubber firms have adjusted the purchasing price of rubber latex in line with the tendency of the Tokyo Commodity Exchange (Tocom) in Japan.

At present, the rubber price at the Tocom doubles the average export price of Vietnam’s rubber in 2015 and 2016.