Rubber producer estimates to sell over 1,500 tonnes of latex in first two months

Bui Phuoc Tien, vice general director of Hoa Binh Rubber Joint Stock Co (coded HRC) announced that in the first two months of 2011, the company reported consuming 1,538 tonnes of latex. The company expected to gain considerable profit in Q1 of 2011 with average sales price of 97.67 million dong per tonnes, compared to the sales price for stockpiled products of 55 million dong per tonnes.

In early March, the latex sales price continued raising to 115-116 million dong per tonnes. HRC has ceased collecting the rubber milk by the end of February until May.

In 2011, the rubber firm set targets to reach expected pre-tax profit of 80 billion dong, up 33 percent against that of 2010. The company has worked out its business plan in 2011 using the average sales price to be applied for the member companies under Vietnam Rubber Industry Group during 2011 of 50 million dong per tonnes only, equivalent to half of the current sales price.

Tags: Vietnam business, Vietnam business news

Posted by ENTIFTINI on Mar 7 2011. Filed under Enterprises. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry