A worker extracts latex rubber. — Photo tuoitre.vn

HÀ NỘI — Việt Nam's rubber exports reached more than US$1.7 billion in the first eight months of the year.

With this result, the whole year's turnover is forecast to reach $3 - 3.5 billion, equivalent to an increase of $200 - 400 million compared to last year.

Rubber exports reached about 209,726 tonnes last month, according to data from the General Department of Customs, worth nearly $345 million, up 12.7 per cent in volume and 12 per cent in value, compared to the previous month.

The average export price of rubber is at $1,637 per tonne, down about 1.1 per cent month-on-month, but up about 26.8 per cent year-on-year.

Rubber exports reached about 1.12 million tonnes in the first eight months of this year, worth $1.76 billion, down 7.2 per cent in volume, but up 8.4 per cent in value year-on-year.

Việt Nam currently has a rubber latex output scale of 1.3 million tonnes per year from 910,000 hectares of rubber plantations, reported the Việt Nam Rubber Association (VRA).

However, only 70 - 75 per cent of these are mature rubber trees ready for exploitation. Every year, more than 300,000 tonnes of rubber are used in processing production, leaving a large amount of rubber raw materials for export.

This has opened up a potentially large volume potential for the local industry, especially in the context of the possibility of global supply shortages in the 2024 – 25 period. — VNS