Vietnam's rubber export earnings surge in 7 months

Vietnam, the world's fourth biggest natural rubber exporter, is estimated to export 345,000 tons of rubber, totaling 635 million U.S. dollars, in the first seven months of this year, recording respective year-on-year rises of 41. 6 percent and 113.2 percent, according to a local agency on Thursday.

Average export prices of local rubber stood at 1,720 U.S. dollars per ton in the first half of this year, 500 dollars per ton higher than that of the same period last year, said the Trade Information Center under the Trade Ministry.

Between January and June, China was the biggest market of Vietnam rubber with the import volume of 164,000 tons, followed by South Korea with 12,300 tons.

In 2005, Vietnam exported 574,000 tons of rubber worth 787 million dollars mainly to China, South Korea, Japan, Germany and the United States, up 11.9 percent and 31.9 percent, respectively.

Vietnam plans to increase its rubber tree acreage to 700,000 hectares by 2010 from 500,000 hectares in 2005, and build more rubber processing plants in the coming years.

Source: Xinhua