China to Pay Much More for Viet Nam’s Rubber

Collecting latex on a rubber plantation

China plans to import a huge amount of natural rubber to meet its booming demand for tires and inner tubes, so Viet Nam can look forward to a much higher price for its rubber in the remainder of 2006, the Ministry of Trade’s Information Center predicts.

The northern neighbor is easily the biggest buyer of Vietnamese rubber, having bought more than 60 percent of the national output this year. Since October, in fact, China has been importing up to 1,600 tons a day from Viet Nam.

At the moment, Vietnamese rubber is fetching between 14,500 and 14,700 Renminbi per ton, an increase of 500 Renminbi in barely a month.

By Dinh Lan - Translated by Hoang Uy

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