Rubber exports in June increased strongly

Trade News

Rubber exports in June increased strongly

Friday, July 19,2019

AsemconnectVietnam - Viet Nam's rubber exports in June reached 122,760 tonnes, earning US$174.45 million, a month on month increase of 58.4 per cent in volume and 56.1 per cent in value, according to the General Department of Customs.

Those figures saw a small surge of 0.5 per cent in volume and 0.7 per cent in value compared to June 2018.

However, the average rubber export price in June stood at $1,421 per tonne, down 1.5 per cent compared to May but increasing 0.2 per cent compared to June 2018.

Rubber exports to the Chinese market in June fell sharply compared to the same period last year, while exports to India and Malaysia increased sharply, reported cafef.vn.

In the first six months of this year, rubber exports reached 614,390 tonnes worth $841.83 million, up 8.9 per cent in volume and 2.6 per cent in value year on year.

During the first six months, rubber exports to India and South Korea increased sharply, while there was slight surge in the exports to China and Malaysia.

Of which, the rubber exports to China, the largest export market of Vietnamese rubber, accounted for 55.7 per cent of Viet Nam's total rubber export volume.

The exports to China reached 387,110 tonnes, earning $523.9 million, in the first six months. Those figures rose by 6.6 per cent in volume and 0.8 per cent in value compared with the same period last year.

The average export price of Vietnamese rubber to China in the first six months reached $1,353 per tonne, down 5.4 per cent year on year.

According to the Ministry of Industry and Trade, from the beginning of July 2019 until now, the price of domestic rubber latex decreased according to the trend on the global rubber market.

Source: VNS

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