Vietnam to earn more from exporting rubber to China

Vietnam is likely to reap 480 million US dollars from exporting rubber to China, its biggest rubber importer, this year, up from 357 million dollars last year.

The world rubber price will increase to 1,250-1,320 dollars per ton in the coming months due to international thinner supplies, and higher demand of China for rubber this year which is estimated at 3.5 million tons, according to Vietnam's Trade Ministry on Monday.

Export prices of Vietnamese rubber now remain high, around 1,150 dollars per ton. However, the Vietnam Rubber Corporation, the country's biggest rubber producer and exporter, will limit the export of unprocessed latex to China, and intensify export processed rubber products.

Vietnam is estimated to supply 103,000 tons of rubber worth 120 million dollars to the world market in the first quarter of this year, posting year-on-year respective rises of 2 percent, according to the General Statistics Office.

It earned 597 million dollars from exporting 513,000 tons of rubber last year.

Vietnam now cultivates some 461,000 hectares of rubber trees, according to the General Statistics Office.