The Ministry of Industry and Trade (MoIT) has set higher targets for the country’s rubber exports and will expand the sector’s markets beyond China which is currently the biggest buyer of Vietnam’s unprocessed rubber products.
Vietnam now ranks fourth in the world after Thailand, Indonesia, and Malaysia in rubber exports, but the ministry believes that it can increase both the quality and amount of rubber exports.
The country exported 760,000 tonnes of rubber last year while the target was 780,000 tonnes.
This year, the MoIT plans to achieve a 4 percent increase in export output and a rise of 12.4 percent in export value over 2007.
Rubber prices in some markets have risen recently with Russia fetching US$165 per tonne, Turkey US$130 per tonne, China US$70 per tonne and US$64 per tonne in Japan.
VOVNews/VNS
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