HANOI (Commodity Online) : Total export turnover of Vietnam rubber last year reached $2.3 billion exceeding the targets set by $800 million despite registering only a marginal increase in exports.
Trade value of rubber jumped 90% even as exports last year surged by only 5.7% in volume. Latex prices soared dramatically climbing to $2,820 a ton which is a 230% surge over 2009. Of the 678,000 ha acreage, 65% has produced latex so far.
The surge in value of rubber is bringing in investments from many quarters:
For instance, the Sai Gon Construction Trading Company has a project in pipeline to plant rubber on 20,000ha in Central Quang Tri Province's Huong Hoa District of Vietnam. 1,500ha is expected to have rubber plantings this year.
Another province of Quang Binh has 13,000ha under rubber cultivation and there the acreage is set to double before 2015.
The surge in plantations acreages is deemed insufficient to cater to rubber demand from various quarters and is expected to register higher earnings.
Short-term rubber prices would also remain buoyant as huge plantations in Thailand, Indonesia and Viet Nam are in low production cycle.
(Source: http://www.commodityonline.com/news/Rubber-surge-takes-Vietnam-exports-beyond-targets-35941-3-1.html)
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