Vietnam ranked third in the world in terms of rubber export value, with 3.24 billion USD in 2021, up 36.2 percent from the previous year, the Ministry of Agriculture and Rural Development (MARD) said.

To ensure the quality of rubber, a representative of the Vietnam Rubber Association said that it is promoting the grant of the certification Vietnam Rubber.

When the US dollar recedes in the boom-and-bust cycle along with a global economic revival, the rubber market is slated to feel tight supply and increasing prices.

The global demand for rubber and tyre products has been consistently increasing throughout the last decade, with Vietnam being one of the top suppliers of these items.