VIETNAM IS THE 3rd BIGGEST RUBBER SUPPLIER TO INDIA

The Import-Export Department (Ministry of Industry and Trade) quoted statistics from the Indian Ministry of Commerce as saying that in the 10 months of 2021, India imported 969.34 thousand tons of rubber (HS code 4001; 4002; 4003; 4005 ), worth US$1.93 billion, up 38.1% in volume and 72.7% in value over the same period in 2020. Indonesia, South Korea, Vietnam, Malaysia, and Thailand are the 5 major markets. rubber supplier to India.

Notably, rubber imports from these markets have grown strongly in both volume and value over the same period in 2020. In the first 10 months of 2021, Vietnam is the third-largest market to supply rubber to India. With 82.59 thousand tons, worth 157.15 million USD, up 53.5% in volume and 101.1% in value over the same period in 2020. Rubber imported from Vietnam accounted for 8.5 % of India's total rubber imports, up from 7.7% in the same period in 2020.

In the first 10 months of 2021, India imported 404.81 thousand tons of natural rubber (HS code: 4001), worth US$741.07 million, up 32% in volume and 68.8% in value compared to In the same period of 2020. In which, Vietnam is the second-largest market to supply natural rubber to India with 81.19 thousand tons, worth 154.1 million USD, up 52.5% in volume and 99. .1% in value over the same period in 2020.

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Vietnam's natural rubber market share in India's total imports in the first 10 months of 2021 accounted for 20.1%, up from 17.4% in the same period of 2020. The main market structure for rubber supply Naturally for India in the 10 months of 2021, there will be a change when the rubber market share of Indonesia, Singapore in total imports of India decreases, while the market share of Vietnam, Malaysia, Ivory Coast, and Thailand increases.

In the first 10 months of 2021, India also boosted the import of synthetic rubber (HS code: 4002), with 471.24 thousand tons, worth 1.02 billion USD, up 46.2% in volume and 83. 2% in value over the same period in 2020, in which South Korea, Russia, Japan, the United States, and Singapore are the 5 largest markets supplying synthetic rubber to India, except Singapore, which imports rubber from these markets all increased significantly compared to the same period in 2020.

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