Vietnam rubber export estimated at $532Mln in Jan-Feb

Vietnam rubber export is estimated to reach $532 million worth of 121,000 tons in first two months of this year, soaring 175% for value and 57% for quantity on-year

Vietnam rubber export is estimated to reach $532 million worth of 121,000 tons in first two months of this year, soaring 175% for value and 57% for quantity on-year, the Vietnam Rubber Association(VRA) said.

In February alone, the country is estimated to export $200 million worth of 45,000 tons of rubber, surging 254% for value and 104.5% for quantity from 2009. However, the figure tumbled compared with $332.95 million worth of 75,600 in January due to a long Tet holiday, VRA said.

The surge was attributed by higher export prices of rubber in the recent time. The prices of SVR 3L rubber topped $5,850/ton in the world market on February 21.

However, the prices of natural rubber are forecast to fall in March due to lower demand from major markets of Vietnam rubber export including China, the U.S, Taiwan and Japan, VRA predicted.

Vietnam rubber export is forecast to reach between $2.7-$3 billion worth of between 760,000-780,000 tons this year, VRA said. – Stoxplus.com

Tags: Vietnam rubber exports

Posted by VBN on Mar 4 2011. Filed under Import-Export, Rubber & Plastic. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry