Source vnbusiness.vn
According to China Customs, in the first 7 months of 2022, China’s rubber import value (HS 4001, 4002, 4003, 4005) reached 7.73 billion USD, up 10.1% over the same period last year. year 2021. Vietnam’s rubber market share in China’s total import value in the first 7 months of 2022 accounted for 15.4%, higher than 15.3% in the first 7 months of 2021.
Thailand, Vietnam, Malaysia, Japan and Korea are the 5 largest markets supplying rubber to China. In which, imports from Malaysia and Korea decreased, while the value of rubber imports from Thailand, Vietnam and Japan increased over the same period in 2021.
In the first 7 months of 2022, Vietnam is the second largest rubber supplier to China with US$1.18 billion, up 10.6% over the same period in 2021. It is forecasted that China will still be the main market for Vietnam’s rubber latex and semi-processed rubber exports in the last months of 2022. However, the supply chain disruption due to the “Zero-Covid” policy of Vietnam China will continue to influence China’s rubber consumption in 2022.
Regarding rubber export turnover in general, the Import-Export Department (Ministry of Industry and Trade) quoted data from the General Department of Customs as saying, it is estimated that rubber exports in August 2022 will reach about 210 thousand tons, worth 320 million USD, up 6.9% in volume and 0.3% in value compared to July 2022; compared to August 2021, increased 11% in volume and 3% in value.
The average export price of Vietnam’s rubber in August 2022 reached US$1,523/ton, down 6.2% compared to July 2022 and down 7.2% compared to August 2021. Accumulated in the first 8 months of 2022, rubber exports reached about 1.19 million tons, worth 2 billion USD, up 7.8% in volume and 8.1% in value over the same period in 2021.
Regarding rubber prices, in August 2022, according to the Ministry of Industry and Trade, rubber prices at the main trading floors in Asia all dropped sharply compared to July 2022. The main reason is that the market sentiment has recently been affected by signs of new weakness in China before the country’s real estate crisis, the Covid epidemic.
Regarding types, according to the latest data of the Ministry of Industry and Trade, a mixture of natural rubber and synthetic rubber (HS 400280) is the most exported rubber of Vietnam in the first 7 months of 2022. The above two types accounted for 56% of Vietnam’s total rubber exports, respectively, with 550,490 tons, equivalent to 939 million USD.
