Vietnam rubber set for 1st drop in 6 yrs | Bangkok Post: business

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Vietnam rubber set for 1st drop in 6 yrs

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Rubber shipments from Vietnam are poised to decline for the first time in six years as demand growth slows in China, according to the deputy trade minister of the world’s third-biggest producer. Only Thailand and Indonesia produce more. 

Phinij Jarusombat runs rubber farms on more than 2,000 rai of fertile land stretching over Muang and Bung Khla districts in Nong Khai. Thailand stands to gain as rubber shipments from Vietnam are poised for their first decline since 2008.

Exports will probably drop 7% to 1 million metric tonnes this year, Tran Tuan Anh said in an interview in Hanoi on July 29. That would be the first decrease since 2008, according to the General Statistics Office. The country will seek to diversify its export markets to lower exposure to China, the world's biggest consumer, and boost domestic use, Mr Anh said.

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