Badly hit by prolonged drop in natural rubber (NR) prices, Vietnam, the world’s third largest NR producer, plans to boost domestic consumption by promoting the manufacturing of rubber products such as tyres, gloves, automobile spare parts etc for both domestic and export markets.
Globally, unprecedented price falls, adverse weather and growing usages of synthetic rubber are pushing traditional natural rubber growers to other agricultural commodities. The same trend is seen in Vietnam too. Rubber growers are increasingly switching to fruits trees, cashew and pepper. Some are doing inter-cropping and converting only a part of their rubber plantations.