Source: vietnambiz.vn
According to the Import-Export Department (Ministry of Industry and Trade) in April, rubber exports reached 78,000 tons, equivalent to 141 million USD, down 30% in volume and value compared to March. However, compared to April 2021. , rubber exports still increased 26% in volume and 28% in value.
Accumulating 4 months, rubber exports reached 485 thousand tons, worth USD 857 million, up 4% in volume and 9% in value over the same period in 2021.
(Source: Import and Export Department)
In April, China was still Vietnam’s largest rubber consumption market, accounting for 58% of the country’s total rubber exports.
Accordingly, rubber exports to China reached 46 thousand tons, equivalent to 79 million USD, down 35% in volume and value compared to March but up 37% in volume and 43% in value over the same period. .
Accumulating 4 months, Vietnam exported 326 thousand tons of rubber to China, equivalent to 562 million USD, unchanged in volume and up 8.5% in value over the same period in 2021.
The Import and Export Department informed that rubber prices at the Shanghai Commodity Futures Exchange (SHFE) dropped sharply after the holiday.
On May 9, the price of RSS3 rubber for June delivery was at 12,270 yuan/ton ($1.82/kg), down 3.8% compared to the end of April and down 14% over the same period in 2021.
The reason is that China has blocked many provinces and cities to prevent the COVID-19 epidemic, causing the consumption of tires to slow down, affecting the demand for rubber.
Contrary to the downtrend of the Chinese market, rubber exports to some key markets such as India, Russia, the US, Pakistan, Spain, and the UK continued to grow well in both volume and value compared to the previous year. April 2021.
The Import-Export Department believes that the rubber market may be affected by the lack of semiconductors in auto production, the geopolitical crisis, the shortage of containers, high transportation costs and slow customs clearance affecting the chain. supply.
However, in the coming time, Vietnam’s rubber exports will benefit from high crude oil prices, reduced supply and high demand in major markets.
