RUBBER MARKET ON 11/7/2022: RUBBER EXPORTS GROW STRONGLY

The Import-Export Department (Ministry of Industry and Trade) estimated that Vietnam's rubber exports in June reached about 180,000 tons, worth 297 million USD, up 57.7% in production and 52.6% in value compared to May 2022; compared to June 2021, an increase of 10.4% in production and an increase of more than 8% in value.

The average export price reached $1,651/ton, down 3.2% compared to May and down more than 2% compared to June 2021.

In the first 6 months of 2022, rubber exports reached about 779,000 tons, worth US$1.35 billion, up 9.2% in production and 12.2% in value over the same period in 2021.

In the first 5 months of 2022, Vietnam's exported rubber products are mainly a mixture of natural and synthetic rubber (HS 400280), Latex, SVR3L, SVR10, SVRCV60, RSS3, etc.

Which, the mixture of natural rubber and synthetic rubber (HS 400280) is the most exported product, accounting for 58.7% of the country's total rubber exports, with 351,820 tons, worth 609. 2 million USD, up nearly 6% in production and 13.5% in value over the same period in 2021.

Exports to China accounted for 99.7% of the country's total export of natural and synthetic rubber mixes, with 350,750 tons, worth US$606.66 million, up 6.2% in production, and increased by 13.8% in value over the same period in 2021.

In addition, in the first 5 months of 2022, many types of rubber exports also increased sharply in both volume and value compared to the same period in 2021, notably synthetic rubber and mixed rubber. HS 4005), SVR 20, Latex, SVR 10, RSS3, SVR 3L, etc.

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