RUBBER EXPORTS NEARLY DOUBLE, EXPECTED TO KEEP RISING

According to statistics of the General Department of Customs, in April 2021, the whole country exported 62,013 tons of rubber at USD110.2 million, dropping by 44% in both volume and turnover compared to March 2021. However, compared with the same month of 2020, it increased sharply by 46.9% in volume, up by 105.4% in turnover. Accordingly, in the first 4 months of this year, rubber exports increased sharply by 73.2% in volume over the same period last year, reaching 468,202 tons. The turnover increased even more strongly, rising up by 103.4 %, reaching 784.4 million dollars.

The rubber average export price in the first four months of this year also increased by 17.5% over the same period last year, reaching $1,675.4 per ton.

In the domestic market, the rubber price since the Lunar New Year has not changed much. At the moment, the liquid natural rubber latex price in Dong Nai in April 2021 increased slightly, from VND 9,500/kg to VND 10,500/kg. The rubber price in the Southeast fluctuated around 315 - 325 VND/degree of latex.

In the first 4 months of this year, China continued to hold the position of the largest rubber import market of Vietnam with nearly 70% of our country's total rubber exports. Specifically, China imported 323,597 tons, equivalent to 518.83 million USD, up 89.6% and 119% respectively over the same period last year. Export price to this market also increased by 15.7%, reaching USD1,603/ton.

The second-largest market position of Vietnamese rubber products in India, with 24,392 tons in the first 4 months of this year, equivalent to US$44.45 million, up 58.2% in volume and 90% in turnover. The next position was Korea with 12,641 tons, equivalent to 24.21 million USD, up 29.7% in volume and 56.9% in turnover; The US reached 12,427 tons, equivalent to 21.94 million USD, up 60.5% in volume and 94% in turnover.

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Volume and turnover data according to General Department of Customs

In the coming time, rubber exports are forecasted to remain favorable when economies gradually reopen, export rubber prices are expected to keep rising.

According to the latest report of the Association of Natural Rubber Producing Countries (ANRPC), global natural rubber prices in the short term will increase slightly when demand for rubber increases, oil field prices increase, the supply is limited and USD strengthens against other currencies.

ANRPC believes that an active vaccination campaign in developed economies will be an important factor in boosting global rubber demand, especially in markets such as China, the US, and Europe.

Global rubber supply is also expected to improve starting from the last week of May. ANRPC forecasts that global natural rubber production in June 2021 will increase by 15.8% compared to May. However, the momentum was limited by the number of new Covid-19 infections in Thailand, India, Malaysia, Cambodia and Sri Lanka increased sharply.

The supply chain of goods in general and rubber, in particular, continued to be disrupted many times due to a shortage of containers, leading to delayed deliveries, uncertain supply, which may force some companies in a Some rubber producing countries have to change their business strategies, or apply for an extension of the delivery deadline, or have to find a domestic source of rubber with a stable supply, even though the price is higher than that of imported rubber.

However, the second wave of the Covid-19 outbreak in India, coupled with slow progress on vaccination in this country as well as many other Asian countries could limit the growth of demand as well as the recovery of prices. rubber. ANRPC that predicts increased supply starting from June may also limit the sharp increase in rubber prices.

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