Rubber exports on the rise in Vietnam

THE Indochinese country expects to make over US$3 billion from rubber exports this year because of rising global demand, says its Ministry of Agriculture and Rural Development. China accounts for 70% of the country’s total rubber exports, while exports to Malaysia and Hong Kong are on the rise. This year it will increase its rubber production by 4% compared to 790,000 tonnes last year, as the rubber plantation area has increased by 40,000 ha. The country earned US$774 million from exporting over 173,000 tonnes of rubber in the first quarter of this year, a year-on-year increase of 40% in volume and 135% in value.