Source: baotintuc.vn
Along with that, the price of rubber is likely to bounce up to USD 3.8/kg in the second half of 2022 due to high demand while global rubber output decreases due to reduced area and climate change factors. .
According to experts, along with the world shortage of natural rubber in 2021, a sharp increase in oil prices will lead to a boom in rubber prices, which is forecasted to increase again until the end of the quarter. I/2022.
Many experts predict that in the period of 2022-2024, the world rubber will probably enter a quite strong price increase cycle because the supply is decreasing, so Vietnam’s rubber exports can continue to benefit in terms of prices. price.
Import and Export Department (Ministry of Industry and Trade), in 2021, Vietnam’s rubber exports are estimated at 1.97 million tons, worth $3.3 billion, up 12.9% in volume and 39% in value. compared to 2020.
The high growth of Vietnam’s rubber exports in the past year was due to the increased imports from the markets of China, India, Korea, the United States, Indonesia, Turkey, the Netherlands, the Czech Republic, and Canada. Vietnamese rubber.
According to the Import-Export Department, in the domestic market, due to the impact of the COVID-19 epidemic in the main producing provinces such as Binh Phuoc, Dong Nai and Binh Duong, in December 2021, the price of smallholder rubber latex was purchased. fluctuates around 290 – 320 VND/degree TSC, down from 5-8 VND/degree TSC compared to the end of November 2021.
Notably, in the first 11 months of 2021, Vietnam’s rubber exports to the European Union (EU) reached about 100 thousand tons, equivalent to $175 million, up 33.7% in volume and up sharply by 72.6 % in value over the same period in 2020.
In particular, the EU is one of the largest export markets for Vietnam’s agricultural products. Therefore, the Free Trade Agreement between Vietnam – EU (EVFTA) is likened to a lever for the rubber industry to connect deeply into a large market with high selling price…
Because, with the EVFTA Agreement, synthetic rubber and derivatives will not have new advantages because the tax rate is already 0%. However, rubber hoses and rubber tires are exempt from tax immediately from the previous 3% – 4.5% rate.
Moreover, rubber conveyor belts, conveyors, or conveyor belts will be reduced over a 5-year period from 6.5%, which is the driving force behind the export of rubber and rubber products.
In addition, industry, production and consumption in the EU are developing strongly, the EU’s consumption demand for rubber and rubber products is very large, especially high-grade rubber ( SVR CV) and categories SVR 10, SVR 20. Forecast of continued growth momentum of this item in the following years.
However, the legality and sustainability requirements in this market for products are increasingly stricter both from a regulatory and market perspective.
Therefore, to meet the requirements of the EU market, the rubber industry needs to aim for sustainable rubber production according to the standards of certification of origin for wood (FSC).
According to experts, although Vietnam is ranked 4th in the world in terms of rubber exports, it is still facing some pressure to meet global quality standards for natural rubber products.
Therefore, Vietnamese rubber companies still need to make more efforts to meet higher standards to expand export markets.
