Rubber exports in first half of February surge
VOV.VN - Vietnam exported 76,934 tonnes of rubber worth US$108.55 million during the first half of February, representing a rise of 95% in volume and 55% in value compared to the same period from last year, according to details given by the General Department of Vietnam Customs.
Despite recording an increase in export volume throughout the reviewed period, the country shipped 211,829 tonnes of rubber worth US$291.36 million abroad between the beginning of the year and the end of February 15, marking a fall of 8% in volume and 27% in value on-year.
China remained the largest Vietnamese rubber export market in January, accounting for 79.49% of total rubber exports.
Specifically, the nation exported 107,227 tonnes of rubber worth US$141.89 million to the Chinese market, a decline of 25.1% in volume and 41.8% in value compared to last year’s corresponding period.
According to figures released by the Import-Export Department under the Ministry of Industry and Trade, the average export price of Vietnamese rubber in January surged by 0.5% to US$1,354 per tonne compared to December, 2022, but decreased by 21.2% against January, 2022.
Most notably, the average export price to the Chinese market dropped by 22.3% to US$1,323 per tonne, down 22.3% compared to January 2022.
Although rubber exports in January to major markets experienced a downward trajectory compared to the same period from last year, exports of the product to markets such as Russia, Netherlands, and Canada all recorded strong growth.
According to experts, Vietnamese rubber exports are anticipated to face numerous difficulties in the first half of this year due to China continuously changing its policy due to the impact of the COVID-19 pandemic, which will have an adverse impact on the global market and international rubber prices.
However, China's lifting of its "Zero-COVID" policy and its subsequent reopening are expected to create opportunities for rubber exports to bounce back moving forward.
