Rubber exports surge over seven-month period

VOV.VN - Vietnam exported 983,760 tonnes of rubber worth US$1.68 billion during the past 7 months of the year, representing a rise of 7.2% in volume and 9.1% in value compared to the same period from last year, according to statistics released by the General Department of Vietnam Customs.

July alone witnessed the country ship 196,500 tonnes of rubber worth US$318.98 million, up 4.6% in volume and 2.9% in value compared to the previous month.

Most notably, rubber exports in some major markets in July saw robust growth, including India, the Republic of Korea, Turkey, Indonesia, Russia, Canada, and Spain, while exports to other markets such as Taiwan (China), the United States, Sri Lanka, Pakistan, and Japan endured a downward trajectory.

China remained the country’s largest rubber consumption market in July, duly accounting for 71.3% of total Vietnamese rubber exports, with 140,040 tonnes worth $220.09 million.

This figure represents a rise of 4.8% in volume and 3.6% in value over the previous month, but a fall of 7.6% in volume and 10.3% in value compared to July of last year.

The average export price of rubber to the Chinese market stood at US$1,572 per tonne, a decline of 1.1% against June and a drop of 3% compared to July of last year.

The nation exported 676,360 tonnes of rubber to China worth US$1.12 billion during the initial seven months of the year, up 5.3% in volume and 7.8% in value against the same period from last year.

Experts assessed that Chinese rubber import demand has bounced back over recent months as the northern neighbour seeks to import a large quantity of rubber latex and preliminarily processed rubber in order to meet the production of rubber products.

During the first half of the year, the Vietnamese market remained the second largest rubber supplier to China, with turnover reaching US$959.67 million, up 10.6% on-year.

The Vietnamese rubber market share in China’s total import value during the first half of the year accounted for 14.45%, higher than the figure of 14.37% recorded during last year’s corresponding period.

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