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Virus Risk Forces Top Vietnam Rubber Producer to Seek New Buyers
- Vietnam Rubber Group is looking for buyers outside of China
- Company’s shares tumble 6.1%, most in more than a month
Photographer: Godong/Universal Images Group via Getty Images
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Vietnam’s top rubber producer is actively pursuing buyers outside of China on fears that the coronavirus will erode demand from its biggest customer, according to a person familiar with the matter.
Vietnam Rubber Group Ltd., the world’s third-largest listed producer of rubber, is looking for new markets and is considering cutting export prices, the person said, asking not to be identified as the matter is private. The company is concerned that demand from China, which accounts for half of the group’s shipments of latex, will fall, the person said.