Vietnam Rubber Group to raise natural rubber output under its own brand
The Vietnam Rubber Group (VRG) has announced that it will raise the volume of VRG-branded natural rubber to nearly 323,600 tonnes this year, making up 86 percent of its total exploited output.
A worker collects latex from a rubber tree (Illustrative photo: VNA)
Hanoi (VNA) - The Vietnam Rubber Group (VRG) has announced that it will raise the volume of VRG-branded natural rubber to nearly 323,600 tonnes this year, making up 86 percent of its total exploited output.
The rate is expected to hit 92 percent by 2022.
The VRG has built a set of standards and introduced VRG-branded rubber products since 2018, bolstering consumption of its products along with Vietnam’s rubber brand in the international market.
VRG-branded products reached 255,407 tonnes last year, accounting for 68 percent of the group's total output, from just 20,790 tonnes recorded in 2018.
The VRG reported 21.17 trillion VND in revenue and 5.23 trillion VND in post-tax profit in 2020, year-on-year increases of 6.9 percent and 36.4 percent, respectively./.
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Despite the difficulties caused by the COVID-19 pandemic and natural disasters that directly affected it, the Vietnam Rubber Group achieved its revenue and profit targets for 2020.
The Vietnam Rubber Industry Group JSC reported 21.17 trillion VND (915.6 million USD) in revenue and 5.23 trillion VND in post-tax profit in 2020, year-on-year increases of 6.9 percent and 36.4 percent, respectively.
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A worker collects latex from a rubber tree (Illustrative photo: VNA) 
