Maithao Company Limited. (Vietnam)

Established at the end of 2006, Maithao Company Limited. is a unit specializing in processing, trading, and exporting types of natural rubber used in the processing industry of car tires, shoe soles, household goods, and other industrial products. The subject is a member of The Vietnam Rubber Association (VRA). Talking to us, Mr. Phuong - Chairman cum General Director said the company also planted rubber trees but did not meet the demand. In addition to domestic sources, the company also imports (mainly from Cambodia) to serve the production. Besides domestic markets, types of natural rubber such as SVR CV50, SVR CV60, SVR 3L, SVR 5, SVR 10, SVR 20, RSS, SVR3L mixture, SVR10 mixture... are also exported to many foreign countries for consumption. According to VRA, macro factors have become unfavorable since political tensions between Russia and Ukraine broke out. Accordingly, inflation, interest rates, and exchange rates increased, leading to a recession in the world economy and a decrease in consumer demand. As a result, the rubber market was under constant downward pressure, especially from August to the end of November 2022. The average rubber price in 2022 dropped significantly compared to 2021, while the increase in production costs resulted in a lower-than-expected profit level. The rubber market in 2023 is forecasted to remain under pressure in the context of the negative world economy situation.