Export rubber prices have nearly doubled in 2016, forecast to increase furtherQPC
Rubber exports increased sharply in both price and turnover
At the end of February 21, the price of rubber SVR 10 and SVR L reached 44,854.92 VND/kg and 58,128.52 VND/kg, respectively. Along with this trend, some domestic rubber companies have increased their purchasing prices. Specifically, like Loc Ninh and Binh Phuoc Rubber One Member Limited Liabilities Company, on February 21, announced that they would buy dried rope latex at the price of 17,400 VND/kg fresh (up 1,400 VND) and 15,400 VND/kg fresh (up 1,300 VND). VND) compared to the price offered by this company on February 1, 2017.
Previously, in January 2017, the price of finished rubber products in Binh Phuoc, Binh Duong, Tay Ninh, SVR L rubber increased from 46,700 VND/kg (December 29) to VND 50,500/kg (January 12); SVR10 rubber increased from 43,700 VND/kg to 48,600 VND/kg.
Specifically, in 2016, the average export price of rubber was only $1,333/ton, down 1% compared to 2015, so Vietnam’s export rubber price was only at VND28-30 million. /ton. This price is only 50% of the average export price from the beginning of the year to February 21, 2017 of VND 55 million/ton (SVR L) and VND 48 million/ton (SVR 10).