VIETNAM RUBBER MARKET SHARE IN INDIA DECREASED TO 7.58%

According to the Statistics of the Ministry of Commerce of India, in 2020, India imported 893,410 tons of rubber (HS code 4001; 4002; 4003; 4005), which worth $ 1.42 billion, dropped by nearly 13%. in volume and 21.5% in value compared to 2019.

The 5 largest rubber suppliers of India include Indonesia, South Korea, Singapore, Vietnam, and Malaysia, but rubber imports from these markets fell sharply in both volume and value compared to 2019.

In 2020, Vietnam is the fourth largest rubber supplier to India with 67,760 tons, worth $ 100.47 million, dropping by51.2% in volume and 51.5% in value over the year. 2019.

Vietnam's rubber market share in the total rubber imports of India in 2020 decreased from 13.54% in 2019 to 7.58%.

10 biggest rubber suppliers of India in 2020

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In 2020, India imported 377,710 tons of natural rubber (HS code: 4001), worth about 542.99 million USD, went down 22.5% in volume and 26% in value compared to 2019.

In 2020, Vietnam is the second-largest market supplying natural rubber to India with 67.15 thousand tons, worth $ 99.39 million, decreased by 51.5% in volume and 51.8% in value. price compared to 2019. Vietnam's market share of natural rubber in the total imports of India in 2020 will also decrease from 28.39% in 2019 to 17.78%. The structure of the natural rubber supply market to India in 2020 changed when the shares of Vietnam and Malaysia in the total imports of India decreased, the shares of Indonesia, Ivory Coast, and Singapore increased.

India also reduced imports of synthetic rubber products (HS code: 4002) in 2020, with 422.79 thousand tons, worth $722.79 million, dropping by 4.1% in volume and 20.4% in value compared to 2019 when Korea, Russia, Singapore, Japan, and the US are the 5 largest markets supplying synthetic rubber to India.

The structure of the synthetic rubber supply market for India in 2020 will also change when the share of synthetic rubber from Korea, Singapore in the total imports of India decreased, while the shares of Russia and Japan. and the US rose. The market share of synthetic rubber in Vietnam accounts for only 0.13% of the total imports of India.

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