Vietnam’s rubber export forecasted at $3b in 2011

This year, Vietnam’s rubber export is forecasted to reach about 830,000 tones, increasing 50,000 tones from last year if the world market conditions are favorable, earning about up to $3 billion, a year on year rise of 1.71%, Ministry of Agriculture and Rural Development forecasted.

The latest forecast from Association of Natural Rubber Production Countries (ANRPC) showed the global natural rubber output in 2011 would increase 8% to 10.06 million tones against 9.32 million tones last year thanks to favorable weather condition.

According to International Rubber Study Group (IRSG), the world rubber demand would reach about 26.1 million tones this year, increasing 1.7 million tones from last year. The world rubber consumption this year is predicted to reach 25.5 million tones and it would be 27.5 million tones by 2012.

According to the General Statistic Office (GSO), Vietnam’s rubber growing area in 2010 reached 740,000 hectares, increasing over 9% from 2009’s. As analyzed by Reuters, Vietnam’s rubber output in 2011 would reach 780,000-790,000 tones, rising 4% year on year thanks to the expanded area of by 40,000 hectares.

Also according to GSO, in the first three months this year, the country’s rubber export reached 179,000 tones, earning $798 million, up 48% in quantity and 50% in value year on year. – Vietbiz24

Tags: Vietnam rubber exports

Posted by VBN on Apr 11 2011. Filed under Agriculture, Import-Export, Import-Export turnover. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry