Vietnamplus

Natural rubber firms are making profits from non-core activities despite falling rubber prices on global markets.

The Vietnamese rubber industry enjoyed robust growth in exports but experienced a fall in export prices in the first two months of 2019.

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 Ministry of Agriculture and Rural Development has valued the Vietnam Rubber Group, the country’s largest rubber company, at 4 trillion VND (177.78 million USD), not including its land.

Major agricultural products enjoyed a rise in export value in the first half of this year despite a fall in volume, according to the General Department of Vietnam Customs.

Vietnamese stock indices ended on a positive note on June 14, led by banks, insurance companies and agriculture firms on positive market information.

Cambodia is optimistic about the prospect of a rubber price recovery amid falling global prices, said a local official.

Thailand, the world’s largest rubber producer, is coordinating with Malaysia and Indonesia to reduce rubber supply in order to stabilise prices.

Vietnam shipped abroad an estimated 193,000 tonnes of rubber for 392 million USD in the first two months of this year, up 25.4 percent in volume and 2.4 times in value year-on-year.

Shares advanced on February 10 on the two stock exchanges when investors sought opportunities in medium-cap and penny stocks.

The Vietnam Rubber Group (VRG) cannot delay its plan to divest by June 2017, said Deputy Minister of Agriculture and Rural Development Ha Cong Tuan.

The Vietnam Rubber Group (VRG) has planted more than 90,000 hectares of rubber trees in Cambodia in the past 10 years, 1,900 hectares of which have been producing latex.

Shares bounced back on the two local exchanges on October 27 from a five-day losing streak, driven by the energy sector following a rebound in oil prices.

Lao PM Thongloun Sisoulith vowed that the Lao Government will create the most possible favourable conditions for Vietnamese investors during his first-ever dialogue with Vietnamese businesses.

A state visit to Cambodia on June 15-16 made by Vietnamese President Tran Dai Quang marks a milestone in the two countries’ two-way trade and investment.

Vietnamese shares on March 11 extended gains on both local exchanges, led by the dairy corporation Vinamilk after it announced a plan to raise foreign ownership in the company.

Thailand, Indonesia and Malaysia have agreed to cut exports of natural rubber by 615,000 tonnes for six months from March to reduce supplies and increase prices that are trading near six-year lows.

Agro-forestry-fishery recorded a trade surplus of 7.09 billion USD in 2015, despite a slight reduction in export revenue.

The Association of Natural Rubber Producing Countries (ANRPC) agreed to work towards a common trading floor in a bid to take control of supply sources and regulate the market for the sake of rubber growers at its ministerial-level meeting in Kuala Lumpur, Malaysia, on May 8.

Establishing a network of rubber producing countries in Southeast Asia was a central focus in talks between Minister of Agriculture and Rural Development Cao Duc Phat and Thai Minister of Agriculture and Cooperatives Petipong Pungbun Na Ayudhya in Hanoi on March 12.