Source: danviet.vn
High demand from China, rubber prices remain stable
Table of Contents
Due to the still large demand from import markets such as China, India, … rubber prices from the beginning of February 2022 until now have remained stable compared to the end of January 2022.
Specifically, in Binh Phuoc, the price of raw rubber purchased by Phu Rieng Rubber Company is from 330-340 VND/grade, stable compared to the end of January 2022.
In Binh Duong, the price of raw rubber materials of Phuoc Hoa Rubber Company fluctuates at 348-350 VND/degree of latex.
According to the report of the Import-Export Department (Ministry of Industry and Trade), in 2021, China will continue to be Vietnam’s largest rubber consumption market, rubber exports to this market will increase compared to 2020.
According to statistics of the General Department of Customs, in 2021, Vietnam exported 1.39 million tons of rubber to China, worth 2.28 billion USD, up 2.6% in volume and 25% in value. prices compared to 2020; the average export price of rubber reached 1,636 USD/ton, up 21.8% compared to 2020.
In which, the mixture of natural rubber and synthetic rubber is exported the most to China, accounting for 87.2% of the total amount of rubber exported to China in 2021, with 1.21 million tons, worth 1.21 million tons. 2.02 billion USD, up 7.3% in volume and 30.4% in value, the average export price reached 1,665 USD/ton, up 21.5% compared to 2020.
China spends up to 12.56 billion USD to buy rubber
Currently, China is the second largest rubber import market in the world. According to statistics from the China Customs Administration, in 2021, China’s rubber import turnover will reach 12.56 billion USD, up 14.8% compared to 2020.
Thailand, Vietnam, Malaysia, Korea and Japan are the 5 largest rubber markets for China.
In 2021, Vietnam is the second largest rubber supplier to China, Vietnam’s rubber market share in China’s total import turnover in 2021 will account for 18.2%, up from 16. 3% of 2020.
Currently, Vietnamese rubber is facing stiff competition with Thai products in the Chinese market.
Rubber exports to China accounted for 51.3% of Thailand’s total rubber exports in 2021 with 2.55 million tons, worth 127.06 billion Baht (equivalent to 3.86 billion USD), down 5% in volume, but 16% in value compared to 2020.
World rubber price increase slows down due to slow auto sales
According to the Import-Export Department (Ministry of Industry and Trade), from the beginning of February 2022 until now, rubber prices at key Asian exchanges have increased again.
At the Osaka Commodity Exchange (OSE), rubber prices increased due to optimism, but the gain was still limited by concerns about Japanese auto sales in January 2022.
Falling new car sales add to signs that Japan’s economy may shrink in the first quarter of 2022 due to continued supply chain disruptions and an increase in cases of the Omicron variant. .
In Thailand, rubber prices tend to increase sharply from the beginning of the month until now.
According to the Association of Natural Rubber Producing Countries (ANRPC), the easing of restrictions related to the Covid-19 pandemic such as reopening the borders of some countries and the resumption of economic activities will contribute to significantly on the recovery of rubber demand in 2022.
Therefore, the prospect of the rubber industry in 2022 will be very bright, the selling price will continue to keep at a high level. ANRPC forecasts that global rubber production in 2022 will increase by 5.6% compared to 2021.
In 2023, it is expected that the global rubber supply will be in short supply, which will increase the shortfall in the following years until 2028 and possibly until 2031 due to the widening supply and demand gap.
This forecast has been made on the basis of assessing the planting trend and the possibility of expanding the area of mature rubber trees in rubber producing countries.
