High NR prices spur Vietnam export figures

Thursday, August 12, 2010

Ho Chi Minh City, Vietnam - Bernama reports that Vietnam exported 324,000 metric tonss of rubber worth $893 million in the first seven months of the year, according to the Vietnam Rubber Association. The figure represented a 3.4% decrease in volume but an 85% increase in revenue since rubber prices rose last year, The average export price in the first seven months was $2,744/mt, 92.7% higher than in the same period last year, according to the VRA. China is the largest buyer of Vietnamese rubber, accounting for two-thirds of the country’s total rubber exports. Of last year’s exports of $1.2 billion, $800 million was to China.

(Source: Rubber World)