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

HCM City struggles to control influx of substandard produce 1    HCM City struggles to control influx of substandard produce

High demand for farm produce and the sheer variety of ways in which it is brought into HCM City from other localities makes quality control a very difficult task, officials say.

Hoi An hosts silken rendezvous Hoi An hosts silken rendezvous

Top craftsmen and women from seven silk villages in Viet Nam will participate in the Viet Nam Silk Culture Day at Hoi An city's Silk Village centre on December 28.

Local art smashes auction record Local art smashes auction record

Days after noted Vietnamese artist Le Pho's View from the Hilltop set a new auction record, art collector Nguyen Minh still has a lingering feeling of regret.

Long Bien Bridge preservation divides planners 2    Long Bien Bridge preservation divides planners

Architecture and cultural managers discussed Long Bien Bridge's future at a seminar held on Wednesday in Ha Noi.

Malaysia crush VN in AFF semis Malaysia crush VN in AFF semis

Viet Nam suffered a nightmare yesterday at My Dinh Stadium in Ha Noi as they were knocked out of the ASEAN Football Federation-Suzuki Cup.