Vietnam's rubber industry to work with regional growers to boost exports

Vietnam -- According to an article in thanhniennews.com, "The Vietnam Rubber Association plans to share information with its counterparts in China’s main rubber suppliers to prevent over-supplies and close price gaps between the exporters.

The agreement with Thailand, Indonesia and Malaysia will facilitate the exchange of information on output, demand and prices, said Tran Thi Thuy Hoa, the association’s general secretary. Vietnam’s rubber exports to China are currently cheaper than those from the three countries. While Vietnam exports rubber latex to 61 countries and territories, including the European Union and Japan, China is the main consumer of Vietnamese rubber, importing nearly 70 percent of the country’s total export volume, according to Hoa.

Of the country’s 208 rubber exporters, 165 companies trade with China, Hoa said, adding that 59 percent of Vietnam’s rubber exports to China are delivered under DAF (Delivered at Frontier) terms. The remaining volume is exported by sea or train. She said the cooperation between Vietnam and the three other rubber suppliers would support Vietnamese rubber exporters, which have been hit hard by Chinese trade barriers since March this year."