Vietnam is likely to export 800,000 tons of rubber for US $3 billion in 2011, up from US $2.3 billion in 2010, according to the Vietnam Rubber Association (VRA).
The average export price in the first half of this year stood at US $4,410 per ton, up 60% against the same period last year.
According to the International Rubber Study Group, the world’s rubber demand will rise by 1.7 million tons to 26.1 billion this year.
VRA General Secretary Tran Thi Thuy Hoa said, Vietnamese rubber firms should enhance their product quality to fill in the needs.
For its part, the VRA is proposing the Finance Ministry postpone the imposition of rubber export taxes, Ms. Hoa said.
The rubber sector will organize more trade promotion programs, expand rubber-growing areas in Binh Phuoc, Dong Nai, Tay Ninh, Ba Ria - Vung Tau…, build processing plants near material zones, and develop better rubber varieties, Ms. Hoa added.
The country will increase rubber acreage by 60,000 ha in the northwestern and northeastern region, raising its total rubber-growing area to 800,000 ha, which will generate an output of 1.1 million tons in 2015 and 1.2-1.4 million tons in 2020.