Vietnam’s rubber export turnover is expected to hit US$1.5 billion this year due to the increasing demand for natural rubber and soaring prices in the world.
The forecast was made by Le Quang Thung, General Director of the Vietnam Rubber Industry Group, who added that Vietnam’s rubber was likely to fetch US$2,250 per tonne in 2008.
Vietnam ’s rubber was sold at VND41 million (US$2,500) per tonne in January, the highest level so far, while last year’s export price was VND33 million per tonne.
In 2007, Vietnam exported 719,000 tonnes of rubber latex, earning US$1.4 billion.
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