In the first 9 months of this year, Binh Phuoc’s rubber export turnover reached 84.61 million USD. The main export markets were China, the EU, and the US. Rubber is known as “white gold” due to its regular revenue of billions of USD per year. This is among the top 10 items with the highest export value in Vietnam’s agricultural products.
By the end of 2023, Binh Phuoc has more than 244,000 ha of rubber. It is one of the perennial trees that bring a stable source of income to the people, accounting for more than 50% of the province’s main perennial tree area.
Over the past month, the price of rubber latex has increased sharply, making many farmers in Binh Phuoc excited. This is the highest price after more than 4 years at a low level.
Although the price is higher than the last 4 years, the rubber latex production this year is lower than in 2023. This is caused by the adverse weather and less investment.
Binh Phuoc earned 85 million USD from “white gold”.
BINH PHUOC RUBBER IS HEADING TO INDIA AND EUROPE
The rubber industry of Binh Phuoc has been implementing many solutions to adapt and develop. One of the important directions is the application of science and technology to rubber production and processing.
Large enterprises have invested in advanced technology systems to improve the quality of rubber latex, enhance production processes, and optimize productivity. This not only helps reduce production costs but also increases the competitiveness of Binh Phuoc rubber products in the international market.
In addition, the conversion of high-quality rubber varieties, which are more resistant to diseases and drought, is encouraged to be widely applied among farmers.
This solution both increases productivity and helps rubber trees better adapt to adverse weather conditions due to climate change.
To solve the market problem, rubber enterprises in Binh Phuoc actively expand their export network towards other potential markets, such as India and Europe, instead of being dependent on traditional markets.
Participating in international trade fairs, signing new export contracts, and building long-term partnerships are important steps for the rubber industry of Binh Phuoc to maintain the market in the context of competition.