99.6% OF RUBBER PRODUCTS IN VIETNAM ARE EXPORTED TO CHINA MARKET

1. Rubber exports still increase thanks to purchasing level in the Chinese market

Thanks to purchasing level in the Chinese market, according to statistics from the General Department of Customs, Vietnam's rubber exports in March 2022 reached 130,000 tons, worth US$233 million, up 27.9% in product and up 28 .2% in value compared to February 2022; compared to March 2021, Vietnam's rubber exports increases 15.9% in product and 18.6% in value. 

The average export price of rubber increased by 0.2% compared to February 2022 and 2.3% compared to March 2021 (up to $1,792/ton). 

Accumulated in the first 3 months of 2022, rubber exports reached about 424,000 tons, worth 746 million USD, up 4.6% in product and 10.7% in value over the same period in 2021. 

According to the Import and Export Department (Ministry of Industry and Trade), in the first two months of 2022, Vietnam's exported rubber products are mainly a mixture of natural and synthetic rubber. Which, a mixture of natural rubber and synthetic rubber is the most exported product, accounting for 64.3% of the country's total rubber exports, reaching 189,240 tons, worth $329.25 million. 

Exports to China accounted for 99.6% of the country's total export of natural rubber and synthetic rubber, with 188,520 tons, worth $327.54 million, down 1.1% in volume, but increased by 8.2% in value over the same period in 2021.

Thanks to the positive export situation to China, in March 2022, the price of raw rubber latex across the country was stable. 

In Binh Phuoc, the price of raw rubber latex purchased by Phu Rieng Rubber Company ranges from 330-340 VND/degree of latex. 

In Binh Duong, the purchase price of raw rubber latex of Phuoc Hoa Rubber Company fluctuated at 348-350 VND/grade of latex. The price of rubber latex in Gia Lai was purchased by Mang Yang Rubber Company at the price of 310-320 VND/grade, stable compared to the end of February 2022.

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2. In the first 2 months of 2022, China spent 2.29 billion USD buying rubber

China is one of the largest rubber-consuming markets in the world. According to statistics from China Customs, in the first two months of 2022, China's rubber import turnover reached US$2.29 billion, up 22.5% over the same period in 2021. 

Thailand, Vietnam, Malaysia, Japan, and South Korea are the 5 largest markets supplying rubber to China.

 In the first two months of 2022, Vietnam is the second-largest rubber supplier to China with a turnover of $462.06 million, up 6.5% over the same period in 2021. 

Vietnam's rubber market share in China's total import turnover in the first two months of 2022 accounted for 20.2%, down from 23.2% in the first two months of 2021.

In the first 2 months of 2022, China's natural rubber import turnover reached 698.39 million USD, up 41.9% over the same period in 2021, Vietnam is the second largest natural rubber supplier market. 6 for China with a turnover of 43.83 million USD, down 6.2% over the same period in 2021. 

However, Vietnam is the largest supplier of natural rubber and synthetic rubber to China.

Specifically, in the first two months of 2022, China's import turnover of a mixture of natural rubber and synthetic rubber (HS code: 400280) reached US$1.01 billion, up 25.1% over the same period in 2021. 

Which, Vietnam is the largest supplier to China with a turnover of $414.67 million, up 7.5% over the same period in 2021. 

The mixed natural rubber and synthetic rubber market share of Vietnam accounts for 41.1% of the total import turnover of natural rubber and synthetic rubber of China.

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