Vietnam's rubber imports during the first half of this year dropped 10.8 percent from a year earlier to 205,000 tonnes, a Trade Ministry report said on Monday. January to June exports of rubber latex fell 3.5 percent from a year earlier to 280,600 tonnes and revenues edged up 1.6 percent to reach $527 million.
The gain was low compared with a Trade Ministry projection for the whole of 2007 which envisaged earnings to expand more than 7 percent, the ministry report said.
It did not give a reason for the decline in rubber imports but production in regional countries has been slowed due to rainy weather. Tapping in top producer Thailand was recovering after a delay due to heavy rains in mid-June.
Vietnam, the world's fourth-largest exporter of natural rubber, did not have large stock to offer during the first half as its latex tapping only resumed in April after a two-month break to allow trees to rejuvenate.
Production often peaks from late October. Vietnam has been buying latex from other Asian producers such as Indonesia, India and Cambodia for re-exports. China bought 65 percent of Vietnam's rubber last year. Other key buyers are South Korea, Germany, Taiwan and Russia.
This year Vietnam's rubber exports are forecast to rise 7 to 10 percent to between 750,000 tonnes and 780,000 tonnes, with 250,000 tonnes expected to be imported for re-exports, from 236,000 tonnes bought last year. Industry officials have said they would strive to cut about 5 percent of rubber sales to China, the world's top consumer, in order to increase sales to European buyers such as Russia and the Czech Republic.
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