Rubber exports shrink during first half of 2023
VOV.VN - Vietnam exported approximately 766,000 tonnes of rubber worth US$1.05 billion in the first six months of 2023, down 2.6% in volume and down 22.9% in value against the same period last year, according to the General Department of Vietnam Customs.
Despite this drop, rubber exports in June brought in US$239 million, up 53.7% in volume and up 51% in value from the previous month. Indeed, the average export price of rubber stood at US$1,327 per tonne, marking a fall of 1.8% compared to May and 19.6% lower than that of June 2022.
During the opening five months of the year, the key rubber products for export included mixtures of natural rubber or similar gums with synthetic rubber coded HS 4002.80, SVR 10, SVR 3L, RSS3, Latex, SVR CV60, and SVR 20.
The strongest growth was recorded in rubber coded HS 400280, which accounted for 66.93% of the country's total rubber exports.
Most notably, exports to China made up 99.82% of the total amount of natural and synthetic rubber exports with 391,740 tonnes, worth US$357.1 million, up 11.7% in volume but down 11.5% in value against the same period last year
Experts anticipate that the world’s consumption demand for rubber is currently not high and rubber export prices will not bounce back this year due to factors such as the Russia-Ukraine conflict and high inflation globally.
