The value of rubber exported by Vietnam this year is expected to fall by $26 million to $4 billion.
Nguyen Thi Thuy Hoa, general secretary of the Vietnam Rubber Association, said last week that the world economy has not yet recovered from the 2008 crisis, causing a glut of rubber on the world market.
Two million tonnes of rubber are expected to be stockpiled by next year. The price of rubber has fallen 48% in the past two years. Nearly 43% of Vietnam’s rubber goes to China, but exports to that market have fallen 25% in value so far this year.
