RUBBER EXPORTS INCREASE 28% IN THE FIRST 5 MONTHS OF 2022
Citing data from the General Department of Customs, it is estimated that rubber exports in May will be 110,000 tons, worth $181 million, up 40.4% in production, and an increase of 28% in value compared to the previous month.
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RUBBER EXPORTS INCREASE 28% IN THE FIRST 5 MONTHS OF 2022
According to the Import-Export Department (Ministry of Industry and Trade), citing data from the General Department of Customs, it is estimated that rubber exports in May will be 110,000 tons, worth $181 million, up 40.4% in production and increase 28% in value compared to the previous month. Compared to May, rubber exports increased by 33.1% in production and 26.4% in value.
The average export price of rubber in May was 1,645 USD/ton, down 9% compared to April and down 5% compared to May 2021. Accumulated in the first 5 months of the year, rubber exports were about 595,000 tons, worth 1.04 billion USD, up 8% in production and 12% in value over the same period in 2021.
Photo: Illustrated
Vietnam's rubber buying markets are China, India, Russia, the US, Pakistan, Spain, and the UK.
In May, the price of raw rubber latex in some places decreased compared to the end of April. In Binh Phuoc, raw rubber latex is purchased by Phu Rieng Rubber Company at the rate of VND 305-345/grade of latex, down VND15/grade of latex compared to the end of April. The price of rubber latex in Gia Lai was purchased by Mang Yang Rubber Company at the price of 305-315 VND/grade of latex, down 15 VND/grade of latex.
In the first 4 months of the year, Vietnam's exported rubber products are mainly a mixture of natural and synthetic rubber, SVR3L, SVR10, Latex, RSS3, SVRCV60, etc. The mix of natural rubber and synthetic rubber is the most exported product, accounting for 60% of the country's total export volume, with 291,000 tons worth 508 million USD, up 2.3% in terms of export value. volume and increased 10.6% in value over the same period in 2021.
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