Rubber Exports Bring in US$349Mln in First Four Months

Vietnam has raked in around US$349 million from shipping an estimated 209,000 tons of rubber products in the first four months of this year, representing on-year rises of 56.16 per cent in value and 38.27 per cent in volume, respectively, showed the latest report of the Government Statistics Office.

 

The report also revealed that in April alone, the country notched up roughly US$88 million worth from around 50,000 tons of rubber exports, up as many as 71.6 per cent on-year in value and 60 per cent in volume.

 

The average price of rubber in the first quarter was US$1,559 per ton, up 42.13 per cent against the same period of last year. The Ministry of Trade forecasts average export prices of Vietnamese rubber to be between US$1,750- US$2,100 per ton in April.

 

The most common variety of export rubber was SVR 3L, accounting for 46-49 per cent of the total export volume and selling for US$1,745 per ton. The next was SVR 10, which accounted for 17-18 per cent, and was offered at US$1,568, followed by latex rubber which made up for 13-17 per cent of total exports, selling for an average US$1,121 per ton.

 

Recent figures from the Ministry of Trade showed that neighboring China remains the biggest importer of Vietnamese rubber products with the demand for around 300-400 tons of Vietnamese rubber per day in recent times.

 

Vietnamese rubber exporters were estimated to ship 69,678 tons to China in the first two months of this year, earning over US$112 million. The exporters hope that export revenue from rubbers to China may reach US$600 million for the whole year.  

 

The second-ranked South Korea reportedly bought nearly 6,837 tons of Vietnamese rubber products, costing US$9.1 million, during the time. Followings are Germany and Taiwan with spending of US$8.1 million and US$7.1 million to import some 4,944 and 4,208 tons of rubber from Vietnam, respectively.

 

From May, Vietnam is likely to boost rubber exports when farmers increase collecting natural rubber from their plantations, an industry official said.

 

The country is expected to export about 600,000 tons of rubber this year, compared with 574,000 tons last year.