Chinese demand for Vietnamese rubber this year should soar 20 percent from 2004 due to robust expansion of its automobile sector, Vietnam's Trade Ministry forecast on Monday. The ministry report, published on its Web site at www.mot.gov.vn, did not specify a quantity, but government statistics showed rubber exports to China, Vietnam's biggest buyer of the commodity, were nearly 300,000 tonnes last year.
Overall Chinese demand for rubber would rise 6 percent from 2004 to 3.5 million tonnes, as it needed more to build tyres for its booming car manufacturing sector, the report said.
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