[10 Feb] Vietnam Likely to Export 750,000 Tons Rubber in 2010

Vietnam is forecast to export 750,000 tons of rubber this year, up 2.5%, state media reported Tuesday, citing the Vietnam Rubber Association.

China will likely buy around 70% of Vietnam's total export volume, according to the Hai Quan newspaper, published by the General Department of Customs.

In 2009, China imported 489,000 tons of rubber valued at $761.46 million from Vietnam, the newspaper said, for an average export price calculated by Dow Jones Newswires of $1,557 a ton.

Average export prices of rubber are forecast to rise 30% this year, the VRA said in the report.

Vietnam is targeting production of 770,000 tons of rubber in 2010 and 850,000 tons a year by 2015, the VRA said.

(Source: irco.biz)