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Rubber exports rise in first four months

VGP - In the first four months of 2021, Viet Nam exported 486,000 tons of rubbers worth US$817 million, up 79.6 percent in volume and 111.6 percent in value compared to the same period last year, according to the Ministry of Agriculture and Rural Development.

05/14/2021 05:44

April alone saw the country shipped an estimated 80,000 tons of rubber abroad, earning US$143 million.

China, India and the U.S. were the largest importers of Vietnamese rubber in the first three months of the year, accounting for 64.2 percent, 5.1 percent, and 2.7 percent of Viet Nam’s total export volume.

The export price of rubber reached averagely US$1,660 per ton in the first three months of the year, up 14.1 percent year-on-year.

The country mainly exports natural rubber to India, the Republic of Korea, and China, with the latter accounting for 76 percent. 

Last year, Viet Nam's rubber export turnover to this market reached $1.78 billion, an increase of 18.1 percent on-year, reaching 1.36 million tons in volume, up 17.3 percent.

The country has the fifth largest rubber cultivation area in the world, but its output ranked third, only after Thailand and Indonesia.

It has exported mainly raw material of latex, accounting for about 78.4 percent. The rest (21.6 percent) has been processed products such as tires, gloves, accessories and soles of shoes.

The International Rubber Study Group (IRSG) forecasts that the world demand for natural rubber in 2021 will recover thanks to the growth of the commercial vehicle segment, mainly due to emerging markets.

Meanwhile, demand for synthetic rubber is forecast to increase 10.2 percent compared to last year, thanks to strong demand for gloves and other products during the season.

 By Vien Nhu