Rubber exports endure drop in value despite surge in volume
Vietnam exported a total of 1.14 million tonnes of rubber worth US$1.45 billion during the first nine months of the year, representing an annual increase of 2.4% in volume, despite simultaneously recording a decline of 4% in value, according to statistics compiled by the Ministry of Industry and Trade.
- Rubber plantations converted into industrial land
- Rubber industry enjoys good start in 2019
- Rubber needs consistent quality
September alone witnessed the country ship 230 thousand tonnes of rubber abroad with a value of US$296 million, representing a rise of 3% in volume and 7.6% in value from August, with the average export price declining by 1.7% to US$1,287 per tonne against the same period from last year.
During the course of the reviewed period, strong growth was recorded in terms of natural and synthetic rubber exports, making up 66% of total Vietnamese rubber export volume, with export turnover reaching US$762.81 million, an increase of 30.4% in volume and 21.4% in value.
Of the figure, exports to China represent 99.3% of the total natural and synthetic rubber export volume throughout the nine-month period.
According to Financial Supervisory Commission of Taiwan (China), Vietnam represents the seventh largest provider to the Taiwanese market during the eight-month period, grossing US$16.94 million from exporting 11,680 tonnes, an on-year decrease of 6.7% in volume and 9.3% in value.
With regard to natural rubber, the country was the third largest natural rubber supplier to the Taiwanese market, with export volume and value dropping by 11% and 12.7%, respectively.
At present, Vietnamese synthetic rubber’s market share accounts for only 0.4% of total imports to Taiwan (China), while the market shares of China and the United State in the Taiwanese market recorded an increase.
