RoK increases rubber imports from Vietnam

VOV.VN - Vietnamese rubber exports to the Republic of Korea (RoK) increased by 57.8% in volume and 95.2% in value during the opening 10 months of the year, with its rubber market share in the RoK rising significantly, according to details given by the General Department of Vietnam Customs.

Vietnam exported 37,620 tonnes of rubber worth US$68.87 million to the RoK throughout the reviewed period with the average export price climbing by 23.7% to US$1,831 per tonne.

Most notably, the SVR 10 rubber was the primary export item, accounting for 25.6% of total rubber exports to the RoK. As many as 9,620 tonnes of the product were shipped to the market over 10 months for US$16.01 million, representing an annual rise of 68.5% in volume and 109.7% in value. The average export price of the SVR 10 rubber inched up 24.5% to US$1,665 per tonne.

The Korea Customs Service reported that Indonesia, Thailand, China, Vietnam, and the United States make up the five largest suppliers of rubber to the RoK market. Among them, Vietnam is the fourth largest rubber supplier, with its market share representing 7.8% of the RoK's total rubber imports.

Although Vietnam was the third largest supplier of natural rubber to the RoK in the reviewed period with 35,730 tonnes worth US$68.35 million, Vietnamese synthetic rubber accounts for only 0.08% of the RoK’s total imports.

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