Currently, the price of rubber on the world market set a record high of nearly US$5,000 per tonne.

Tran Thi Thuy Hoa, General Secretary of the Vietnam Rubber Association (VRA), the price of rubber in 2011 would be higher to make it possible for the rubber sector to earn around US$2.5 -2.7 billion from exports.

Hoa said that this is due to increasing demand on the world market, despite abundant supplies from Thailand, Indonesia, India, Vietnam and China. From now to 2020, rubber output will continue to rise, but cannot meet all expections.

According to the VRA, Vietnam exported around 750,000 tonnes of rubber in 2010, 30,000 tonnes more than in 2009, and is expected to export around 780,000 tonnes this year, up 30,000 tonnes compared to 2010. Currently, the country has 678,000ha under rubber plantation.

With the price of rubber rising constantly from US$3,000 per tonne in January to nearly US$5,000 in December last year the sector earned around US$2.3 billion, US$800 million above plan.