VietnamNewsToday.com

Latex hits record high price

The cost of latex has reached a record high, climbing to over VND90 million (US$4,300) per tonne due to short supply, said general secretary of Viet Nam Rubber Association (VRA) Tran Thi Thuy Hoa.

“This is the highest it’s ever been. It’s even higher than before the world recession,” Hoa said.

“While demand on the production industry has increased significantly thanks to the recovery of the world economy, supplies from main rubber export countries such as Thailand, Malaysia, Indonesia and Viet Nam have remained low,” Hoa said, explaining that rubber yields had been seriously affected by bad weather conditions.

“Due to this, global supply increased by only 5 per cent and the price is likely to continue to rise,” she added.

The VRA changed its projections for national rubber export turnover after the price of latex started to rise in September.

“In August, we predicted an annual export turnover of about $1.5 billion. Now, thanks to the higher price, the export turnover for the whole year is forecast to be more than $2.2 billion,” Hoa said.

If this forecast proved to be correct, it would equate to a 23 per cent increase compared to 2008 and a year-on-year increase of 45 per cent.

While the high price was profitable for exporters, it strongly affected production companies.

“Companies which produce tyres, rubber gloves and mattresses are struggling due to the high price,” Hoa said.

In the world market, the price of latex is also up. Yesterday, it hit $4,700 per tonne in Tokyo.

It is predicted to further increase with demand from China, the biggest consumer in the world market, increasing 13 per cent year-on-year in November.

From VietNamBusiness

Newer Articles
  • Milk prices unexpectedly shoot up
  • Auto tax debate continues, business suffer
  • Vietnam may lose Buon Ma Thuot coffee brand
  • Building materials sales to rise
  • Car sales up 10 per cent in August
  • Domestic retailers tend to join hands with foreign
  • Social networks more utilized by businesses for marketing
  • Fertiliser prices increase dramatically
  • Vietnam’s trade gap from China at nearly $4b in Jan-Apr
  • VCCI supports business restructuring
Older Articles
  • Need to protect Vietnamese trademarks abroad
  • ‘Branding', key to new-style tourism
  • Price of building materials soars
  • Breaknews
  • Prices for goods, services to rise
  • Do higher interest rates affect the stability of prices?
  • Business plan for 2011: cooperate or die
  • Vietnam’s consumer confidence index increases in 2010
  • MB inks comprehensive cooperation contract with EVN Hanoi
  • Jica supports feasibility studies for constructing Long Thanh Airport
Latest News
  • Vietnamese software firms consider Japan as the major market
  • Despite problems, 2011 FDI spending equals 2010
  • EVNTelecom asks for government’s approval to sell 12pct stake for VTC
  • Vietnamese enterprises expanding into international markets
  • Ernst & Young Vietnam role to be examined
  • Vietnamese firms invest over $24.5b in foreign countries as of July-end
  • Vietnam Insurance Market: Keeping Double-digit Growth
  • Vietnam’s economy looks grim with ADB’s forecast
  • Ministry rejects import-export tax changes
  • Government okays anti-dumping suit against US
For Foreigners
  • Adb: policy tightening will lower inflation
  • HSBC, Barclays to advise Vietinbank’s planned overseas dollar bond sale
  • Vietnam govt to service debt for troubled cement projects
  • Calm heads prevail as the forex market to remain cool
  • Further fiscal & monetary tightening in coming months
  • IMF cuts Vietnam’s inflation forecast to 9.5pct in 2011
  • Vietnam’s dong has best week since 1997 after dollar rates curb
  • Vietnam tightens control over state-bank partnership
  • Foreign investors list problems in Vietnam
  • Foreign invested enterprises complain about customs procedures

BusinessTradeVietnamGovernmentFDIWorld economyVietnamese PartyEconomyEconomicMarketState managementPrime MinisterHCM cityHanoiHo Chi MinhCPIAsianWorldAmericaEuropeNguyen Tan DungHau GiangMekong DeltariceStandingMekongCambodiausajapanchinakoreaLai ChauHoa BinhHoi AnChu LaiQuang NamDa nangCan thoSon LaPower PlantMinistry of IndustryDung QuatOilSingaporeThailandMalaysiaIndonesiaLaosVietnameseFDI capitalinvestorsforeign investorNetherlandsUSservicetransportationinfrastructuretourismVNPostExpressSpainGoldTra fishexportcontractstouristMiddle AreaConstructionShipbuildingIndustryCompanyIndustrial ZonebudgetDong NaiBinh DuongVung TauTay NinhBinh PhuocTay NinhLong AnTien GiangUS investorshydropower plantQuang NinhNha TrangStock ExchangeHNXIndexcapitalAgricultureDong ThapAn GiangExport-Processing ZoneYen BaiLao CaiLai ChauDien BienSon LaHoa BinhPhu ThoHa GiangTuyen QuangBac KanLang SonCao BangmanufacturersAseanRussiadevelopmentAviationinflationHong KongAmericanChamber of CommerceSeafoodODAWBIMFFEDAsia-PacificAssociationcountriesEuropeanmarine economyThanh HoaNghe AnNam DinhHa TinhPhu LýVinh PhucBac NinhBac GiangHung YenHai DuongBinh ThuanBinh PhuocLam DongGia LaiKon tumQuang NgaiQuang BinhQuang TriNinh ThuanCa MauBac LieuSoc TrangTra VinhKien GiangVinh LongBen TreincomespoliciesLawassetsNatural GasBuildingstatisticsstrategyDa Latmineral exploitationprocessingindustrieselectricitywatersupplyEnterprisesforestryfisherycommunicationsreal estatetransportationCorruptionbauxiteSecuritiesInsuranceBankFinanceAccountgoodsTrade BalancecoffeeCoalfestivalHa NamNinh BinhHoa BinhUniversityArtsBooktravelVietnam VisaVisaPagodaCommitteePeople's CommitteeVinashincompaniesHoa PhatHSBCACBvietcombankvietinbank

Copyright 2010 © VietnamNewsToday.com 
Powered by: CIINS Design by: Webdesign.vn