Rubber industry needs to develop production chain Rubber latex of Quang Tri Rubber Co Ltd. Viet Nam’s rubber industry needs to develop its production chain to meet the increasing demands of export markets. Viet Nam’s rubber industry needs to develop its production chain to meet the increasing demands of export markets, especially fastidious markets such as Europe and the US, according to experts. To Xuan Phuc, an expert of Forest Trends said Viet Nam’s export of processed rubber has been increasing to many countries. However, Viet Nam’s export rubber products must meet many requirements on the export market, including legal issues. At present, Viet Nam has exported latex and refined rubber products to 175 countries and this figure is continuing to expand. Viet Nam’s largest export market for rubber products was the United States, reaching about US$1 billion in 2020, with a market share of 33.2 per cent, followed by Japan, China, South Korea and Germany. However, there is a situation that the amount of rubber harvested from small farms is higher than that of large rubber plantations, according to Phuc. Therefore, the Vietnamese rubber industry needs to make changes in the future to meet the market requirements. The industry… Read full this story
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