Updated  
August, 19 2014 08:10:00

Rubber exports plunge in first seven months

The export price of rubber averaged about $1,870 per tonne in the first half of this year, 52 per cent lower than in 2011.— Photo chinhphu.vn

HA NOI (VNS) — Viet Nam exported 451,000 tonnes of rubber worth US$832 million in the first seven months of the year, down 10 per cent and 32.3 per cent in volume and value respectively over the same period last year.

The export price of rubber averaged about $1,870 per tonne in the first half of this year, 52 per cent lower than in 2011.

Due to this, Viet Nam plans to reduce its export volume to one million tonnes for the entire year, down 7 per cent from last year.

China remained the largest market, consuming nearly 40 per cent of Viet Nam's total rubber exports; but both export volume and value to the neighbouring country saw large declines during the period, according to the Viet Nam Rubber Association.

Nearly 139,000 tonnes of rubber products were shipped to China raking in $248 million, representing a year-on-year drop of 42.6 per cent in value and 23.6 per cent in volume.

Last year, Viet Nam surpassed Malaysia and India to become the third largest rubber producer in the world, according to the Association of Natural Rubber Producing Countries. — VNS

Send Us Your Comments:
Name:
Your E-mail address:
Title:
 

VietNamNews may edit your comments and not all emails will be published.

Highlight

Singaporeans unite to help scammed Vietnamese tourist Singaporeans unite to help scammed Vietnamese tourist

The assistance that Singaporeans gave a Vietnamese tourist who was scammed when he bought an iPhone 6 in Singapore has earned much attention and applause from Vietnamese newspapers and netizens.

Old apartments remain in state of disrepair Old apartments remain in state of disrepair

There are more than 1,500 old apartment buildings at risk of collapse across Viet Nam, but in the last decade, only five per cent were rebuilt.

Province backs cable car to cave 2    Province backs cable car to cave

Authorities in central Quang Binh Province have given the go ahead for a highly controversial cable car system connecting various sites in the Phong Nha-Ke Bang National Park to the world's biggest cave, Son Doong.

Edward Scissorhands among free outdoor films Edward Scissorhands among free outdoor films

Saigon Outcast will hold two free Thursday outdoor film screenings this month.

Tax not the solution to online gaming issue 1    Tax not the solution to online gaming issue

A 10 per cent tax on the online gaming industry recently proposed by the Ministry of Finance aims to address the connection between the increase in gaming addiction and game-related crimes among youngsters by charging them more to fuel their addiction.