Rubber Group aims for profits bounce
VNS
HA NOI — The Viet Nam Rubber Group is aiming to post profits of more than VND4 trillion (US$250 million) this year on VND12 trillion ($750 million) in revenues, the firm’s general director has announced.
A sizeable portion of that money will likely come from international shipments, said Le Quang Thung. The group plans to export about 320,000 tonnes of rubber latex. According to expert forecasts, latex prices should hover between $1,600 and $1,750 per tonne in 2007.
To reach profit targets, member companies have improved their management and upped the quality and diversity of their products, Thung said.
The group will also invest in its rubber plantations in Laos and Cambodia which cover 100,000 ha each.
In addition, the State supported a move to transform 100,000 ha of unprofitable agricultural land in the Central Highland province of Tay Nguyen into rubber plantations.
The firm plans to manage 500,000 ha of rubber plantations by 2015 and develop industrial wood and rubber processing plants, said Thung.
The Viet Nam Rubber Group made profits of VND4 trillion ($250 million) in 2006 on revenues of VND9 trillion ($562.5 million).
In 2006, the rubber industry planted more than 12,400 ha of rubber trees, bringing Viet Nam’s total acreage under industrial production to 39,000 ha. One ha yields between 1.83-1.95 tonnes of latex.
The industry also processed 325,900 tonnes of rubber latex, 9.9 per cent more than last year’s figures.
The country’s rubber is exported to more than 40 countries and territories worldwide, including Japan, mainland China, Singapore, Taiwan, Korea, the US and Germany.
A sizeable portion of that money will likely come from international shipments, said Le Quang Thung. The group plans to export about 320,000 tonnes of rubber latex. According to expert forecasts, latex prices should hover between $1,600 and $1,750 per tonne in 2007.
To reach profit targets, member companies have improved their management and upped the quality and diversity of their products, Thung said.
The group will also invest in its rubber plantations in Laos and Cambodia which cover 100,000 ha each.
In addition, the State supported a move to transform 100,000 ha of unprofitable agricultural land in the Central Highland province of Tay Nguyen into rubber plantations.
The firm plans to manage 500,000 ha of rubber plantations by 2015 and develop industrial wood and rubber processing plants, said Thung.
The Viet Nam Rubber Group made profits of VND4 trillion ($250 million) in 2006 on revenues of VND9 trillion ($562.5 million).
In 2006, the rubber industry planted more than 12,400 ha of rubber trees, bringing Viet Nam’s total acreage under industrial production to 39,000 ha. One ha yields between 1.83-1.95 tonnes of latex.
The industry also processed 325,900 tonnes of rubber latex, 9.9 per cent more than last year’s figures.
The country’s rubber is exported to more than 40 countries and territories worldwide, including Japan, mainland China, Singapore, Taiwan, Korea, the US and Germany.
