3 - 5, August 2022, HCMC, Vietnam

Rubber market: Orientation to bring natural rubber export turnover to over 2 billion USD

The conference to discuss the effective and sustainable development of Vietnam’s rubber industry towards 2030 held in Hanoi recently, has set a development orientation in 2020 for the rubber market, especially in terms of domestic and export natural rubber consumption rate.

Rubber market and development orientation in 2020

At the Conference to discuss the effective and sustainable development of Vietnam’s rubber industry towards 2030, organized by the Central Economic Committee in collaboration with the Ministry of Agriculture and Rural Development and the Vietnam Rubber Group in Hanoi, the Ministry of Agriculture and Rural Development said, development orientation in 2020 will increase the domestic natural rubber consumption rate by 20% -30%, bringing the export of natural rubber to over 2 billion USD.

According to the Ministry of Agriculture and Rural Development, in the period of 2011 - 2018, the area of ​​rubber from over 800,000 hectares in 2011, the output will reach more than 789,000 hectares; In 2018, the area reached 965,000ha, exceeded the plan by 165,000ha, the output reached 1.1 million tons. In 2018, rubber export volume reached 1.56 million tons with an export turnover of US $ 2 billion, up 13% in volume but down 7% in value.

At present, there are 246 private enterprises and establishments engaged in rubber processing, with a capacity of 1,245 million tons / year. The total capacity of the current processing facilities exceeds the rubber output by 15% -20%. There are still some limitations, such as: No national standards for rubber materials have been developed yet, so the price has not been able to regulate the prices in the past, depending on the world market. There is no national rubber processing facility planning and the construction of a factory without raw material areas. As a result, many private construction facilities are spontaneous, resulting in competition in rubber latex trading.

Source: SGGP

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