Vietnam to double rubber output

Vietnam aims to double rubber output to more than 1 million tonnes by 2020 by expanding plantations and increasing yields, a senior industry official told Reuters on Friday.
"Our target by 2020 will be more than 1 million tonnes. In average, our yield is 1,400 kg per hectare but we hope in the future, we can get around 1,600 kg or more than that," said Tran Thai They Hoa, secretary general of Vietnam Rubber Association.
Vietnam is emerging as a main player in the rubber market, and is the fourth-largest natural rubber exporter after Thailand, Indonesia and Malaysia. Rubber is the country's second largest agricultural export earner after rice, with most sales going to China, the world's largest consumer.
Vietnam is expected to produce up to 510,000 tonnes of rubber in 2006, from around 468,000 tonnes last year, with plantation areas rising around 4 percent to 500,000 hectares, said Hoa.
"This year, we hope we can get about 500,000 to 510,000 tonnes because we've expanded rubber areas recently, and we also improve our productivity by (introducing) new clones and new technique," she said on the sidelines of a conference. "Farmers can continue to expand rubber areas to meet future demand. We encourage producing countries to increase rubber production," said Hoa.
The International Rubber Study Group said this week global consumption of natural and synthetic rubber will rise around 3 percent in 2007, about the same rate as in 2006, as firm demand from main buyers helps offset volatile prices.
The world's consumption of natural and synthetic rubber was expected to increase to 21.5 million tonnes in 2006 from 20.7 million tonnes last year, it said.
Vietnam's Trade Ministry figures show January to August latex exports jumped 44.2 percent to 422,560 tonnes, of which China bought 290,000 tonnes. Export of the commodity in the first nine months rose 32.5 percent to 493,000 tonnes, while earnings soared 97.1 percent to $946 million, the government said.
The price of natural rubber has more than quadrupled since 2001 and the world's three main producers, Thailand, Indonesia and Malaysia, are cashing in on soaring demand, especially from China, said dealers.