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Monday, 26/02/2024
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Rubber export price surge in third quarter by 32.7%
Friday, 05/11/2021 04:22
Rubber export price surge in third quarter by 32.7%

Vietnamese rubber export turnover in the third quarter of the year reached its highest level over the past several years thanks to a sharp rise in rubber export prices at an average of US$1,650 per tonne, an annual increase of 32.7%.

According to the Import-Export Department under the Ministry of Industry and Trade, the nation exported 574,910 tonnes of rubber worth US$948.59 million during the reviewed period, a drop of 8.9% in volume, but a rise of 20.9% in value compared to the same period from last year.

Vietnamese rubber is mainly exported to markets throughout Asia, accounting for 88.5% of the country’s total value of rubber exports. In addition, strong export growth was recorded in markets such as the Americas, up 106.3%, Europe, up 96.4%, Africa up 89.8%, and Oceania, up 128.8%.

Mixed natural rubber and synthetic rubber remains the most exported products, making up 64.1% of the country's total rubber exports, of which  exports to China hold 99.3% of the total exports of natural and synthetic rubber.

According to data compiled by the Import-Export Department, Vietnamese rubber exports to markets such as Malaysia, India, Thailand, Turkey, Japan, and the EU experienced an upward trend in the opening months of the year.

However, the department also warned about numerous challenges in terms of a shortage of empty containers and high freight rates, the factors which will affect rubber imports in the future.

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