Rubber prices bounce back

Over the past two months, the prices of rubber for export have increased sharply, bringing about good profits for rubber growers, according to the Vietnam Rubber Association.

In the first weeks of August, the price of rubber at the Mong Cai border gate stood at 13,600 yuan/tones, 1,600 yuan higher than in July.

The Customs Department at the Mong Cai border gate said that all rubber products are being snapped up by Chinese businesses and around 600-800 tonnes of rubber latex are bought every day while last year’s figure was between 300-400 tonnes a day on average.

The increase in rubber prices is attributed to falling outputs and the limited supplies from Thailand, Malaysia, Indonesia, India and Vietnam.

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