Business

Hike in prices of rubber wood

From end of 2017, price of rubber wood surge continuously; accordingly, market for the wood in the South East is very competitive.

Hike in prices of rubber wood

According to an expert of wood processing in the southern province of Binh Phuoc, a rubber piece with diameter of 10cm up fetches VND1.4 - VND1.6 million a piece, an increase of 30 percent compared to that in six months ago and three times higher than a few years ago.
Because rubber price in early 2018 decreased, compared to last year, standing at $1,463 a ton, owners of small farms have no profit so many of them have sold out their 6, 7 year rubber farm with low productivity to have money for planting new farms while waiting for price hike.
With price hike of rubber wood, farmers can earn VND800 million for one hectare farm.
Rubber woods are bought by private companies for processing and exports.

By VAN PHONG - Translated by UYEN PHUONG

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