HANOI (Commodity Online ) : Vietnam Rubber Association (VRA) on Tuesday said country’s rubber export price increased from $1,900 to $2,050 per tonne, marking the highest level so far.

In a report released here the VRA forecasted that total rubber export of 2009 could be $1-1.1 billion.

Trade commodities or equities from across the globe. Join Now

According to initial estimation, Dau Tieng Co has to date exported 30,100 tonnes of kinds of rubber for over 900 billion dong whereby 11,500 workers receive an average salary of over 3.5 million dong per person a month.

Similarly, Phuoc Hoa Rubber Co earned over 800 billion dong during the first three quarters of this year, exceeding 200 billion dong compared with the plan.

However, Dr Tran Thi Thuy Hoa general director of VRA still was very cautious before sudden movements of the market based economy. She warned, one of the important factors pushing up the Rubber prices is thanks to the control of suitable rubber supply and demand.

Ministry of Industry and Trade reported that in Jan-Sep, Vietnam exported 491,000 tonnes of rubber bringing in more than $734 million. From now to the year end, the export is expected to reach another 210,000 tonnes for $410 million, lifting the full year's export volume to 700,000 tonnes worth $1-1.1 billion.

Vietnam made rubber is exported to 70 countries, in which Chinese market accounts for 60-65 percent of Vietnam's rubber export.

International Rubber Association (IRA) predicted, after 2010, the global rubber demand will continuously increase by 3.5 percent a year. Next year the figure could be 22 million tonnes, up two million tonnes against 2009.

Post your comment  (0)

Connect:

Post to Twitter

Post to Facebook