Vietnam earns US$160 million from rubber exports in Feb
Vietnam shipped 110,000 tonnes of rubber abroad last month, earning more than US$160 million, according to the Ministry of Agriculture and Rural Development (MARD).
The February figure brought the country’s total rubber exports in the first two months of 2024 to 320,000 tonnes, worth US$458 million.
China remained Vietnam’s largest rubber buyer, importing 227,000 tonnes for US$317 million, an increase of 10.1% in volume and 14.4% in value compared to the same period last year.
Meanwhile, the Southeast Asian country's rubber exports to major international markets, including the Republic of Korea, the US, Germany, Russia, Italy, Brazil, Spain and Turkey, have all increased.
Vietnamese rubber fetched US$1,481 per tonne in international markets, an increase of 5% compared to January.
Industry experts said there are several contributing factors to the rise in rubber prices, with the largest factor being the booming car sales in China. As a result, demand for tyres for new cars in China has increased by 30%, boosting demand for natural rubber, and this trend will likely continue in the coming months.
