HANOI, May 21 (Xinhua) -- The value of Vietnam's rubber exports is forecast to reach between 3.3 billion and 3.5 billion U.S. dollars by the end of this year, Vietnam News reported Tuesday, citing the Vietnam Rubber Association.
The association predicted that the country's rubber exports will likely enjoy favorable conditions and surge in the second quarter thanks to the recovery of the global automobile and tire industries, especially in China.
Vo Hoang An, the association's general secretary, said there remained room for Vietnam to increase its exports of rubber materials as the country can produce 1.3 million tons of rubber latex annually, but the local rubber processing sector only needs about 300,000 tons.
Vietnam exported 499,000 tons of rubber worth 743 million dollars in the first four months of this year, up 6.4 percent in volume and 14 percent in value.
China remained the largest consumer of Vietnamese rubber during the cited period, accounting for 80 percent of the country's total export volume, followed by India, said the association. ■
