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Rubber exports to China down
The volume of rubber exports via border to China has dropped, according to the general secretary of the Viet Nam Rubber Association.
Tran Thi Thuy Hoa said China applied trade barriers to limit Vietnamese exports over the border in March.
Under the new regulation, only small volumes of exports can be sent via the Mong Cai or Luc Lam border gates in Quang Ninh Province, and payments must be made via a bank and not by cash.
Of the country’s 208 rubber exporters, 165 companies trade with China mostly via the border.
"Although Viet Nam exports rubber to about 61 countries, including the US, Europe and Japan, nearly 70 per cent of our exports are to China," Hoa said.
China consumes more than 2.5 million tonnes of natural rubber latex each year, accounting for 26 per cent of the world demand.
But the country only produces 500,000 tonnes a year, and imports the rest.
Hoa said domestic companies should improve rubber quality exports to China to a level that matches the quality of exports to other countries.
In addition, the Viet Nam Rubber Association should work with its counterparts in Thailand, Indonesia and Malaysia, China’s main rubber suppliers, to exchange information on demand and prices.
Vietnamese authorities should also announce changes of China’s trade policy and help businesses map out appropriate business strategies.
Viet Nam earned US$357.2 million in rubber exports in the first six months of the year, of which $233.9 million came from China, according to the Ministry of Industry and Trade.
Exports to China in the first half of the year increased by 6.3 per cent, compared to the same period last year, while exports to other markets dropped dramatically.
Viet Nam ranks fourth worldwide after Thailand, Indonesia, and Malaysia in rubber exports.
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