The scarcity of rubber raw materials is forecast to continue in 2022, and world rubber is entering a new price increase cycle due to the decreasing supply, opening an optimistic picture for Vietnamese rubber enterprises to enjoy the dual benefits in terms of both export volume and value.
Vietnam ranked third in the world in terms of rubber export value, with 3.24 billion USD in 2021, up 36.2 percent from the previous year, the Ministry of Agriculture and Rural Development (MARD) said.
Vietnam's rubber industry needs to develop its production chain to meet the increasing demands of export markets, especially fastidious markets such as Europe and the US, according to experts.
The Vietnam Rubber Association (VRA) on November 11 kicked off a project promoting the sector’s compliance with the Vietnam Timber Legal Assurance System (VNTLAS).
Made-in-Vietnam tyres have been rolling in 128 countries and territories worldwide, according to Vice President of the Vietnam Rubber Association (VRA) Vo Hoang An.
Domestic and foreign firms operating in the fields of rubber, paper, coatings and paper ink are displaying their products at international expositions that synchronously kicked off in Ho Chi Minh City on June 13.
A workshop to promote sustainable rubber forests was jointly organised by the Vietnam Rubber Association (VRA) and the Worldwide Fund for Nature (WWF) in HCM City on July 24.
Although Vietnam is the world’s third largest exporter of natural rubber, businesses still have to import rubber raw material to meet the demand for production and processing.
With supply forecast to outstrip demand in the global market, the country's rubber industry is expected to have a difficult time over the next few years, according to the Vietnam Rubber Association.
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