The export price of rubber has increased to US$1,500-1,600 per tons, rising by US$200 – 250 compared to early 2009, and this is the highest level so far this year, the Vietnam Rubber Association said.
According to the association, the price hike is attributed to the fact that the world market’s demand for rubber has recovered rapidly. Given the current price, rubber farmers can earn a profit of US$300-400 per ton, the association added.
The Ministry of Agriculture and Rural Development forecast that Vietnam would export 680,000 tons of rubber this year, resulting in US$1 billion in revenue.
China is still a major importer of Vietnamese rubber.