The Vietnam rubber exports will face more difficulties due to low demand from the major rubber importer , Vietnam Rubber Association said .

In 2013, Vietnam exported 1.078 million tonnes , worth $ 2.51 billion , an increase of 5 % in volume but decreased 12 % in value over the same period the previous year , the Ministry of Agriculture and Development rural said .

China and Malaysia remains the largest market for natural rubber exports by Vietnam in recent years . In 2013, China consumed nearly 45 % of the total rubber export of Vietnam , while Malaysia accounted for 21 % .

However, in the first 2 months of 2014, these two markets have bought less, leading to the export price of natural rubber fell sharply Vietnam , the Ministry of Industry and Trade said .

Currently, the export price of rubber in Vietnam at around $ 2,000 / tonne , down U.S. $ 500-700 / ton compared to the forecast of the Association this year .

In the domestic market , the price of rubber in southern Vietnam , the main rubber growing areas of the country ranges from 1720-1886 USD / ton , down $ 56.8 / t in the last 8 weeks .

In particular , the average export price of rubber SVR 3L Vietnam to date 15/3 at $ 2,100 / ton , down 28.93 % compared with the same period a year earlier, the association said .

Natural rubber prices continued to decline since early 2014 , as global stocks higher . To boost rubber prices recover and prevent losses for producers , the Association has urged domestic businesses reduce rubber production in 2014 and did not sell rubber prices lower than world prices .

In the first 2 months of 2014, exports of rubber in Vietnam reached 215 million, with 104,000 tonnes , down 43 % in value and 25 % reduction in volume compared to the same period last year , the Ministry of Agriculture and rural Development said .

In the same period , China is still the largest rubber importer of Vietnam , with 41 657 tonnes worth USD 82.3 million , down 40.2 % in volume and 54.83 % in value prices over the same period last year , followed by Malaysia and India .