Market and product

Last month, the country exported only 60,000 tonnes of latex, down 2,000 tonnes month-on-month. Export turnover in November was only US$225 million, about $7 million less than October.

“This is the third consecutive month the rubber industry has seen a downturn in latex export value,” the ministry affirmed.

The ministry explained that China was the largest importer of Vietnamese latex, accounting for 60 per cent of total export volume. However, China had frozen small quantity shipments from entering through its border gates.

“Since the beginning of August, China has applied measures to limit imports of rubber from Vietnam through border gates such as Luc Lam and La Phu,” said general secretary of the Viet Nam Rubber Association Tran Thuy Hoa.

Hoa added that this action had significantly affected domestic exports.

In addition, the domestic rubber industry was also affected by the world market.

Demand for autos had dropped strongly in the EU due to the sovereign debt crisis. — VNS