Falling rubber prices have been hitting local farmers and businesses for over a year.
The price had fallen sharply from 25,000 VND per kilogram in theCentral Highlands in mid-2012 to 8,000-9,000 VND per kilogram on August3, according to farmers.
Rubber market experts said thefalling price was following a global trend because large importers ofVietnamese rubber such as China had high inventories, and supplieswere plentiful following harvests in Thailand and Malaysia .
In July, the average export price dropped by 13.7 percent against thesame period last year to 2,191 USD per tonne, according to the Ministryof Industry and Trade.
This has had a negative impact onexports, and in the first seven months of this year, volume fell by 0.1percent to 500,000 tonnes and value plunged 17.6 percent to 1.22 billionUSD compared to the same period last year.
Rubber exportenterprises expected output to increase but prices to fall due to highsupply, according to the Vietnam Rubber Association.
Rubberexports for this year were estimated to fall by 7.7 percent in volumeand 16.3 percent in value compared with 2012, said the Ministry ofAgriculture and Rural Development./.
The price had fallen sharply from 25,000 VND per kilogram in theCentral Highlands in mid-2012 to 8,000-9,000 VND per kilogram on August3, according to farmers.
Rubber market experts said thefalling price was following a global trend because large importers ofVietnamese rubber such as China had high inventories, and supplieswere plentiful following harvests in Thailand and Malaysia .
In July, the average export price dropped by 13.7 percent against thesame period last year to 2,191 USD per tonne, according to the Ministryof Industry and Trade.
This has had a negative impact onexports, and in the first seven months of this year, volume fell by 0.1percent to 500,000 tonnes and value plunged 17.6 percent to 1.22 billionUSD compared to the same period last year.
Rubber exportenterprises expected output to increase but prices to fall due to highsupply, according to the Vietnam Rubber Association.
Rubberexports for this year were estimated to fall by 7.7 percent in volumeand 16.3 percent in value compared with 2012, said the Ministry ofAgriculture and Rural Development./.
