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.
The Vietnam Rubber Group (GVR) targets to earn revenue and profit of 26.9 trillion VND (1.17 billion USD) and 4.56 trillion VND this year, respectively.
The US Department of Commerce (DOC) has issued a positive conclusion for Vietnam in the anti-dumping and countervailing duty probes into imported automobile tyres.
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 Industry Group JSC reported 21.17 trillion VND (915.6 million USD) in revenue and 5.23 trillion VND in post-tax profit in 2020, year-on-year increases of 6.9 percent and 36.4 percent, respectively.
Sustainable latex production is important for Vietnam’s rubber industry, and the country should focus on getting rubber plantations to obtain certifications on sustainability, experts have said.
The Vietnam Rubber Group JSC (VRG) plans to invest in tyre and tube production via mergers and acquisitions (M&As) over affiliate companies of the Vietnam Chemical Group (Vinachem).
Thailand's natural rubber industry is likely to remain depressed this year despite a sharp rise in demand for protective rubber gloves driven by the COVID-19 pandemic.
Cambodia exported 53.05 tonnes of rubber in the first quarter of 2020, a year-on-year increase of 10 percent, earning 75.34 million USD, according to the General Directorate of Rubber under the country's Ministry of Agriculture, Forestry and Fisheries.
The Vietnam Rubber Industry Group (VRG) will invest in three more processing factories in the northern region as the rubber output is expected to increase in the coming time.
The Vietnam International Plastics and Rubber Industry Exhibition (VietnamPlas) opened on October 3 in HCM City, showcasing advanced technologies and machinery and equipment used in the plastics and rubber industry.
The Board of Investment (BoI) of Thailand recently approved five investment projects worth a total of 40.46 billion THB (nearly 1.3 billion USD) during a meeting chaired by Prime Minister Prayut Chan-o-cha, reported Thai media on February 26.
Vietnam earned 220 million USD from shipping 175,000 tonnes of rubber abroad in January, up 10.8 percent in value and 28.9 percent in volume compared to the same month last year.
The rubber industry of Vietnam is facing a dire need to better adapt itself to the market situation as it is likely to be affected by the US-China trade tension that is forecast to not end soon.
The average export price of Vietnamese rubber fell in tandem with the global price, affected by the escalating US-China trade war, according to the Agro Processing and Market Development Authority (AgroTrade) under the Ministry of Agriculture and Rural Development.
The 11th meeting of the Joint Coordination Committee on Cambodia-Laos-Vietnam (CLV) Development Triangle Area was declared a success in Vietnam’s southern Binh Phuoc on December 19.
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