Vietnam is likely to surpass Malaysia as the 3rd largest rubber producer in the world, according to the Association of Natural Rubber Producing Countries.
The association has shown estimates that Vietnam’s rubber production will jump to 955,000 tonnes this year, an increase of 17% over 2011.
Last September, the association reported that Vietnam will replace India as the world No. 4 in rubber production with its output of 930,000 tonnes this year.
Meanwhile, the Vietnam Rubber Association records that the global rubber market is seeing a rise in the consumption-production trend. Natural rubber makes up 42% of the market, with synthetic rubber responsible for the remaining 58%. (RJA)