The rubber price in the world market continued increasing in Q2 of 2009 after a long time slump, according to the news released by Ministry of Industry and Trade.
Thanks to the world economic recovery, the rubber sales have recovered quickly. In addition, the three largest rubber producers of Thailand, Malaysia and Indonesia agreed to cut down the export to push up the export price.
In order to prevent the price from sharply dropping and to support the rubber industry, the rubber producers and exporters agreed to cut down the output so the 2009 world rubber production would reduce by 6.2 percent against last year to 9.36 million tonnes.
This year, Vietnam plans to cut down 31 percent of the rubber production volume to 450,000 tonnes, in comparison with 650,000 tonnes in 2008.
Due to global economic crisis, the demands for natural rubber in China, the US and some Asian countries have declined. However, China's rubber demands, the largest rubber consumer in the world, was predicted to increase by 7 percent within this year.
The three largest rubber producers in the world dropped their export by over 35 percent against the same period last year.
Meanwhile, Vietnam has concentrated on growing rubber trees in Cambodia at present.
Vietnam Rubber Association (VRA) and Vietnam rubber companies located in Kratie province, Cambodia had organised the 2009 launching ceremony of growing rubber trees on June 23.
In his speech at the ceremony, Tran Ngoc Thuan, vice Head of Vietnam Rubber general Department said Vietnamese rubber companies committed to speed up and finish in time the target of growing 100,000 hectares of rubber trees in hilly lands in Cambodia, in accordance with the agreement signed by the two countries' prime ministers.
Firstly, Vietnamese rubber companies have created long-lasting jobs for Cambodian people, helping them reduce poverty. In the next few years, rubber growers will get benefit from their work and contribute large revenue to Cambodia's stage budget.
Up to now, there are seven Vietnamese rubber companies that have operated in four provinces in Cambodia since 2007. In 2009, each company targets to expand the rubber growing areas by 1,000 – 1,500 hectares and to double and triple the rubber growing area in the next years to meet the target in 2012.
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