RUBBER EXPORT IS GOING TO REACH $1 BILLION 

According to the Ministry of Agriculture and Rural Development, in the first 5 months of 2021 rubber export has grown strongly in volume, especially in value with an increase of up to 58.7 % in volume and up 93.9% in value over the same period in 2020, reaching 548 thousand tons, worth 923 million USD.

This item has significantly contributed to the total export turnover of the agricultural, forestry, and fishery group, reaching $10.99 billion, up 12.8% over the same period in 2020. Thus, only in June, the rubber will surpass the export mark of $1 billion.

The average export price of all types of rubber tends to increase compared to the same period in 2020, except for synthetic rubber and regenerated rubber, whose average export price has decreased. In which, some types of rubber had a sharp increase in average export price compared to the same period in 2020 such as RSS1 increased by 34.9%, Latex increased by 32.6%, RSS3 increased by 29.8%, SVR CV60 increased by 27 .9%, SVR 3L up 26.4%...

According to calculations from the statistics of the General Department of Vietnam Customs, in the past 4 months, the mixture of natural rubber and synthetic rubber (HS: 400280) is the most exported item, accounting for 60.89%. the total export of rubber of the whole country, with 285.09 thousand tons, worth 459.18 million USD, up 87.1% in volume and 116.3% in value over the same period in 2020.

In which, exports to China accounted for 99.53% of the country's total export of natural and synthetic rubber, with 283.74 thousand tons, worth $456.58 million, rising by 88. 8% in volume and 118.3% in value over the same period in 2020.

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The total export of rubber products in general to China has reached 705.64 million USD, up 81.6% over the same period in 2020. Thailand is the largest rubber supplier in this market with a value of over 1.4 billion USD, followed by Vietnam. Vietnam's rubber market share in China's total import value in the first four months of 2021 accounted for 16.6%, up sharply from 11.65% in the first four months of 2020.

One of the reasons for the strong rise in rubber exports is that global demand for rubber gloves has had a record increase in history, increasing by more than 20% this year to 360 billion units due to the Covid-19 pandemic. The Malaysian Rubber Glove Manufacturers Association (MARGMA) predicts that the global shortage of rubber gloves will continue until the first quarter of 2022.

The world's major medical glove manufacturers warn that product shortages may occur when demand from the US and Europe spikes. Stemming from this demand, many companies decide to invest in new equipment and machines to increase production capacity, meet domestic and export market demands, and ensure quality and stable prices.

Rubber exports in 2020 reached 1.75 million tons, worth $2.38 billion, rising by 2.9% in volume and 3.6% in value compared to 2019.

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