Source: laodong.vn
Rising world prices create “double” opportunities for rubber exports
Mr. Tran Ngoc Thuan – Chairman of the Vietnam Rubber Association (VRA), said: Due to the continuous increase in rubber prices, compared to the same period in 2020, although the export volume of rubber only increased by 11.9%, the turnover value of rubber products increased by 11.9%. exports increased by 40.8%, reaching nearly 3 billion USD. In the first 11 months of 2021, Vietnam’s natural rubber exports are estimated at 1.7 million tons with a value of US$2.8 billion. If output is stabilized and rubber prices in the market keep increasing, rubber exports can reach 3.1 billion to over 3.2 billion USD.
“Rubber is always in the group of key export agricultural products, accounting for a significant proportion of the total export turnover of Vietnamese agricultural products. With the third position in the world in terms of export value, Vietnamese rubber has been present in more than 80 countries and territories around the world, mainly in big markets such as China, India, Germany. , the United States and emerging markets Russia, Taiwan…” – Mr. Tran Ngoc Thuan emphasized.
According to market experts, the scarcity of rubber raw materials in 2021 and possibly 2022 will cause rubber prices to continue to rise or stay at a high level, which will give Vietnam dual benefits in terms of both production and sales. quantity exported and value of turnover received.
Potential from new markets
According to the Ministry of Agriculture and Rural Development, China for many years has always been at the top of Vietnam’s rubber imports. However, in 2021, Vietnam’s rubber exports to the Korean market are growing impressively. According to the Korean customs agency, currently Indonesia, Thailand, China, Vietnam and the United States are the 5 largest markets supplying rubber to Korea and imports from these markets have increased over the same period in 2020. In the first 10 months of 2021, Vietnam is the 4th largest rubber supplier market. Vietnam’s rubber market share accounts for 7.8% of Korea’s total rubber imports, up from 6.8% in 10 months. 2020.
Statistics from the General Department of Customs show that, in the 10 months of 2021, Vietnam’s rubber exports to South Korea will reach 37.62 thousand tons, worth US$68.87 million, up 57.8% in volume and up. 95.2% in value over the same period in 2020; the average export price reached 1,831 USD/ton, up 23.7% over the same period in 2020. In which, the SVR 10 type (mainly used in tire technology – PV) was exported the most to the market. This market, accounting for 25.6% of total rubber exports to Korea in the first 10 months of 2021, with 9.62 thousand tons, worth 16.01 million USD, up 68.5% in volume and 109.7 % in value over the same period in 2020; the average export price reached 1,665 USD/ton, up 24.5%.
Based on the VRA situation, it is also forecasted that Japan’s rubber import demand will increase at the end of the year while the supply in Asia will decrease due to the influence of the weather. This is also an opportunity for Vietnamese businesses in Japan – one of the leading markets for automobile and tire production.
