Vietnam predicted to become third largest rubber exporter
Vietnam predicted to become third largest rubber exporter
Vietnam’s rubber output may rise 1.5 percent to 995,000 tonnes in 2014, after climbing 14 percent to 980,000 tonnes in 2013, beating Malaysia to become the third largest grower, according to a recent report by the Rubber Economist Ltd.
In Thailand, the top supplier, output is set to advance 4.2 percent to 3.74 million tonnes, while Indonesia may post a 2.1 percent increase to 3.16 million tonnes, it said.
A global glut of natural rubber will probably expand in 2014 as production increases at a faster pace than consumption, according to the report.
The surplus may climb to 366,000 tonnes from 336,000 tonnes in 2013, said Prachaya Jumpasut, managing director of the industry adviser.
Global use may expand 3.1 percent to nearly 11.6 million tonnes in 2014, less than the 4.1 percent growth estimated in September, the report showed, adding that production will climb 3.3 percent to over 11.9 million tonnes next year in comparison with an earlier estimate of 3 percent.
Increases in Vietnam and smaller suppliers such as Myanmar and Cambodia contributed to the higher forecast, said Prachaya.
vietnamnet
