Source: congthuong.vn
According to estimates by the Import-Export Department (Ministry of Industry and Trade), rubber export of Vietnam in September reached about 250 thousand tons, worth 424 million USD, an increase of 19.2% in volume and an increase of 23% in value compared to August 2024, an increase of 29.2% in volume and an increase of 68%. 4% in value compared to September 2023.
The average rubber export price was at 1,697 USD/ton, up 3.2% compared to August and up 30.3% over the same period last year.
Accumulated in the first 9 months of 2024, Vietnam’s rubber exports will reach about 1.37 million tons, worth 2.18 billion USD, down 2.2% in volume, but up 16.4% in value compared to the same period last year. period 2023.
In terms of type, by the end of August, mixed natural rubber and synthetic rubber (HS 400280) was still the most exported product, accounting for 54.81% of the country’s total rubber exports. reached 615.06 thousand tons, worth 964.92 million USD, down 24% in volume and 12.2% in value compared to the same period in 2023.
Exports to China account for 99.66% of the country’s total export volume of mixed natural rubber and synthetic rubber, with 612.98 thousand tons, worth 958.82 million USD, down 24.1%. in volume and down 12.4% in value compared to the same period in 2023.
In the first 9 months of 2024, Vietnam’s rubber exports will reach about 1.37 million tons, worth 2.18 billion USD, down 2.2% in volume. Photo: congthuong.vn
In the first 8 months of the year, the export of some types of rubber grew well in both quantity and value compared to the same period in 2023 such as: Latex, SVR 10, SVR 3L, SVR CV60, RSS3, SVR CV50, RSS1, Cao rubber regeneration, SVR 5, RSS4, Skim block…
However, the export of some types of rubber still declines compared to the same period in 2023, including: SVR 20, synthetic rubber, Crep rubber…
According to statistics from the General Department of Customs, in the first 8 months of 2024, China is still Vietnam’s largest rubber export market, accounting for nearly 78% of the country’s total rubber exports, a decrease of 20% in terms of rubber exports. quantity and decrease 8% in value compared to the same period in 2023.
While exporting Vietnamese rubber to Chinese market tends to decrease, other markets increase very strongly. In particular, the Malaysian market grew in both volume and turnover.
Specifically, in August, exported rubber to Malaysia increased 578% in volume and 550% in turnover. Since the beginning of the year, Vietnam has exported 11.6 thousand tons of rubber to this market, worth 16 million USD, an increase of 178% in volume and 194% in turnover. The average export price reached 1,374 USD/ton, up nearly 6% over the same period.
While Vietnam’s rubber industry mainly relies on exporting raw materials. In contrast, Malaysia focuses on producing and exporting rubber products instead of raw rubber and semi-finished products.
Currently, Malaysia has more than 190 businesses producing rubber products used in the medical field with very diverse products such as rubber gloves, breathing bags, medical sleeves… Medical rubber products of Malaysia is of high quality and is exported to more than 130 countries.
The bright spot of rubber exports this year is the high price increase compared to last year, thereby opening up prospects for growth in export turnover for the Vietnamese rubber industry.
According to the Vietnam Rubber Association (VRA), although Vietnam’s rubber export output decreased significantly, export turnover still increased thanks to rubber export prices always being high in recent times.
The global rubber market is forecast to have a shortage of up to 1.24 million tons of natural rubber this year, higher than the 1.12 million tons the association forecast in May 2024. Fears of supply shortages in the market, especially production contraction in major exporting countries, including Vietnam, have caused world and domestic rubber prices to increase from the beginning of the year until now. .
