Business

Vietnam earns 392 mln USD from rubber export in two months

Vietnam shipped abroad an estimated 193,000 tonnes of rubber for 392 million USD in the first two months of this year, up 25.4 percent in volume and 2.4 times in value year-on-year.
Vietnam earns 392 mln USD from rubber export in two months ảnh 1Collecting rubber latex in a company in Quang Tri province (Source: VNA)
HCM City (VNA) – Vietnamshipped abroad an estimated 193,000 tonnes of rubber for 392 million USD in thefirst two months of this year, up 25.4 percent in volume and 2.4 times in valueagainst the same period last year.

According to the Ministry of Agriculture and RuralDevelopment, domestic rubber market recorded signals of recovery as rubberprices remarkably increased in February this year in line with the world trend.
 The averageexport price in January was almost 1,922 USD per tonne, a year-on-year increaseof 70.6 percent.

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

Domestic rubber firms have adjusted up the purchase priceof rubber latex in line with the tendency in the TokyoCommodity Exchange (Tocom) of Japan.
 At present, the rubber price at the Tocom doubles the average export price of Vietnam’srubber in 2015 and 2016.-VNA 
VNA
#rubber export#export price#increase
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