A rubber plantation in Binh Phuoc province (Photo: VNA) Hanoi (VNA) - 🦩Vietnam earned 662 million USD fromrubber exports in the first five months of the year, a year-on-year increase of2.4 percent, according to the Ministry of Agriculture and Rural Development.
China, India and the Republic of Korea were three biggest buyers, it said.
Exports to these markets all increased sharply in the first four months withexports to India enjoying the highest rise of 29 percent.
Overall exports in the first four months went up 13.7 percent to 556.9 millionUSD.
But they plunged in May to just 105 million USD.
China is by far the biggest importer ofVietnam’s natural rubber, accounting for some 60 percent of volume, most of itused to produce tyres, analysts said.
Therefore, the US’s imposition of high taxes on automotive components importedfrom China has impacted Vietnam's rubber exports to China, they said.
The Ministry of Agriculture and Rural Development has urged rubberproducers and exporters to diversify their products and look for other exportmarkets to reduce the reliance on China.
They should focus on the Indian market, whose tyre industry has developedrapidly but lacks local rubber supply, it said.
The Vietnam Rubber Group (VRG) will work to haveForest Stewardship Council (FSC) certifications for all of its rubber forestsas part of the sustainable development programme for 2019-2024 tenure.
The VRG plans to zone off 5,000 ha of forest land in its rubber project areafor regeneration, and encourage its members to apply clean production andsustainable management measures to further develop the VRG brand.
In the last seven months of 2019, the group will update its regulations onsocial and environmental responsibility and recruitment policies, and approachthe FSC standards.
According to VRG Chairman Tran Ngoc Thuan, the sustainable developmentprogramme is a must in the context of global integration as most of the importersrequire products to have clear origins and FSC certification, which ensuresproducts come from responsibly managed forests that provide environmental,social, and economic benefits.
ꦰ Thecountry has one million hectares under rubber.
Vietnam is the third biggest natural rubber exporter,shipping over 1.5 million tonnes annually to more than 70 countries andterritories.
ꦯ In 2018, exports fetched 2.1 billion USD, a 6.6 percent decline from 2017.-VNA
