HANOI, May 22 (Bernama) — Exports of natural rubber have increased significantly according to the Ministry of Agriculture and Rural Development.
In the first four months of 2015, the export volume for natural rubber hit 259,000 tonnes, up by 37.7 per cent compared to the same period last year, Vietnam News Agency (VNA) reported.
However, export turnover only totalled US$371 million, a 0.6 per cent decline with an average price of US$1,420 per tonne, which is 29.15 per cent lower than last year.
In April, Vietnam exported 58,000 tonnes of natural rubber, generating US$84 million.
Major markets include China, Malaysia and India, who account for 68.08 per cent of Vietnam’s natural rubber market share.
Recently, domestic rubber prices have started to show signs of recovery, but prices are still lower than in early April 2015.
In the southern province of Binh Phuoc, the purchasing price for SVR 3L rubber is around 29,900 VND (US$1.4) per kilogramme. It sells on the Singaporean trade market and it’s offered on the Singapore Commodity Exchange Sicom for US$1,670 per tonne.
— BERNAMA
