HCM City (VNA) – The Ministry of Industry and Trade has set higher targets for rubber exports and an expansion of its markets beyond China , the biggest buyer of Vietnam ’s unprocessed rubber products.
Vietnam ranks fourth worldwide after Thailand , Indonesia , and Malaysia in rubber exports, but the ministry believes that it can increase both the quality and number of rubber exports.
China imports 64 percent of the country’s rubber, with Singapore , the Republic of Korea , Germany and the US the next highest among the 40 countries that buy Vietnam ’s rubber.
The lack of a trademark is one reason Vietnamese rubber sells at low prices. The country exported 760,000 tonnes of rubber last year while the target was 780,000 tonnes.
This year, the Ministry of Industry and Trade targets a 4 percent increase in export output and a rise of 12.4 percent in export value compared to 2007.
Vietnam Rubber Association’s management board said higher demand on the world market and fewer supplies should contribute to higher prices.
Rubber prices rose in some markets, including 165 USD per tonne in Russia , 130 USD per tonne in Turkey , 70 USD per tonne in China and 64 USD per tonne in Japan.-Enditem
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