The Vietnam Rubber Association (VRA) has urged rubber plantation ownersnationwide to scale down their latex exploitation as one of the measuresto deal with falling latex prices, the Saigon Times Daily reported.
VRAsaid price declines on global markets have led to lower latex prices onthe local market, forcing a number of rubber tree farm owners to reduceor even suspend their latex extraction since mid-May to cut costs.
Manyhouseholds in the Southeastern and Central Highlands regions havechopped down both old and young rubber trees in their plantations toplant other industrial trees and high-yield crops.
Statisticsfrom the Department of Cultivation showed 3,000 hectares of rubber treehas been cut and shifted to other industrial plants and crops as of Junethis year.
VRA has worked with associations in other majorrubber-producing countries such as Thailand and Malaysia to scale downlatex exploitation and manage to peg their prices to those on globalmarkets.
Latex prices in Vietnam’s Southeastern region havedropped to 35 million VND per tonne, down 2 million VND compared to lastmonth.
A latex trading firm said it is difficult to predict thenatural latex price on the local market as it varies depending on globaldemand and prices.
According to the Ministry of Agriculture andRural Development, Vietnam posted export revenue of 644 million USD fromshipping 337,000 tonnes of rubber in the first six months this year,down 12 percent in volume and 33 percent in value over the same periodlast year.
The ministry said the average export price of naturallatex in January-May stood at 1,842 USD per tonne, down 29 percentcompared to the same period last year.-VNA
VRAsaid price declines on global markets have led to lower latex prices onthe local market, forcing a number of rubber tree farm owners to reduceor even suspend their latex extraction since mid-May to cut costs.
Manyhouseholds in the Southeastern and Central Highlands regions havechopped down both old and young rubber trees in their plantations toplant other industrial trees and high-yield crops.
Statisticsfrom the Department of Cultivation showed 3,000 hectares of rubber treehas been cut and shifted to other industrial plants and crops as of Junethis year.
VRA has worked with associations in other majorrubber-producing countries such as Thailand and Malaysia to scale downlatex exploitation and manage to peg their prices to those on globalmarkets.
Latex prices in Vietnam’s Southeastern region havedropped to 35 million VND per tonne, down 2 million VND compared to lastmonth.
A latex trading firm said it is difficult to predict thenatural latex price on the local market as it varies depending on globaldemand and prices.
According to the Ministry of Agriculture andRural Development, Vietnam posted export revenue of 644 million USD fromshipping 337,000 tonnes of rubber in the first six months this year,down 12 percent in volume and 33 percent in value over the same periodlast year.
The ministry said the average export price of naturallatex in January-May stood at 1,842 USD per tonne, down 29 percentcompared to the same period last year.-VNA
