Rubber recovery boosts profits
Strong recovery of world rubber prices was expected to continue through the end of the year and increase revenues for local rubber firms, according to local securities companies. The world rubber price closed at 208.5 yen per kilo on November 11, 4.98 per cent higher than 198.6 yen in the previous session, reported tradingeconomics.com website. The price increased by 17.27 per cent against the price in the previous week, 16.68 per cent month-on-month and 33.48 per cent year-on-year. The world rubber price reached its highest level at 526.4 yen per kilo in February 2011, and then dropped to its lowest level at 146.4 yen in January 2016. The Bảo Việt Securities Company’s analytical division reported world rubber prices at the end of September 2016 rose by 32 per cent, compared to earlier this year. On the local market, rubber prices also displayed positive fluctuations against expectations, as the average price at the end of September increased by 15 per cent to VNĐ30 million per tonne against the price in the first half of this year.
