AsemconnectVietnam - In the first 9 months of 2023, Vietnam’s rubber exports were estimated to reach 1.42 million tonnes, worth of 1.89 billion USD, up by 1.6% in volume, down by 17.4% in value compared to the same period last year.

The Import-Export Department (under the Ministry of Industry and Trade) cited the data from the General Department of Customs as saying that Vietnam's rubber exports in September of 2023 were estimated to reach 210,000 tonnes, worth of 270 million USD, down by 5.6% in volume and down by 6.1% in value compared to August of 2023. In comparison to September of 2022, it increased by 8.5% in volume, but decreased by 3.7% in value.
The average rubber export price was 1,283 USD/tonne, down by 0.6% compared to August of 2023 and down by 11.2% compared to September of 2022.
Totally in the first 9 months of 2023, Vietnam’s rubber exports were estimated to reach about 1.42 million tonnes, worth of 1.89 billion USD, up by 1.6% in volume but down by 17.4% in value over the same period of 2022.
In the first 8 months of 2023, Vietnam's exported rubber types were mainly mixed natural rubber and synthetic rubber (HS 400280), Latex, SVR 10, SVR 3L, SVR CV60, RSS3, SVR 20, etc.
Among them, the mixture of natural rubber and synthetic rubber (HS 400280) was still leading, accounting for 66.96% in volume and 67.67% in value of the country's total rubber exports, with 809,620 tonnes, worth of 1.1 billion USD, up by 19.4% in volume, but down by 3.4% in value compared to the same period of 2022.
Of which, the exports to the Chinese market accounted for 99.73% in volume and 99.56% in value of the country's total mixture of natural rubber and synthetic rubber, with 807,390 tonnes, worth of 1.09 billion USD, up by 19.4% in volume, but down by 3.5% in value compared to the same period of 2022.
In general, in the first 8 months of 2023, the exports of many types of rubber decreased in both volume and value compared to the same period of 2022.
However, the exports of some types of rubber still grew well compared to the same period in 2022, such as SVR CV40, RSS4, etc. but these types only accounted for a small proportion of Vietnam's total rubber exports.
Regarding export prices, in the first 8 months of 2023, the average export prices of all rubber types decreased sharply compared to the same period in 2022, of which the sharpest price decreases were: skim block decreased by 28.1%; Latex decreased by 24.3%; RSS3 decreased by 22.7%; mixed rubber (HS: 4005) decreased by 22.4%; SVR 10 reduced by 20.9%.
On the world market, in September of 2023, rubber prices at key Asian exchanges were supported by market optimism about China's fiscal policy and a sharp increase in crude oil prices. Rising oil prices to their highest level in more than a year has encouraged users to switch from petroleum-derived synthetic rubber to natural rubber.
In the domestic market, in September of 2023, raw rubber latex prices tend to increase compared to the previous month. Currently, the purchasing price of rubber latex in Binh Phuoc fluctuates at 265-285 VND/TSC, an increase of 10 VND/TSC compared to the end of August of 2023. In Dong Nai, it fluctuates at 255-265 VND/TSC, an increase of 10 VND/TSC.
Meanwhile, in raw material areas in the provinces of Dak Lak, Dak Nong, Gia Lai, Kon Tum, Lam Dong and Binh Duong, City. In Ho Chi Minh City, the price of latex fluctuates at 240-270 VND/TSC, a slight increase compared to the end of August 2023. At rubber companies, latex prices were also adjusted up.
At Phuoc Hoa Rubber Company, an increase of 20 VND/TSC was recorded, pushing the purchasing price to 293-295 VND/TSC; Phu Rieng rubber latex price fluctuates at 265-285 VND/TSC, an increase of 15 VND/TSC compared to the end of August of 2023. Binh Long Rubber Company kept it at 265-275 VND/TSC, an increase of 6 VND/TSC. Ba Ria Rubber Company adjusted the purchasing price of latex to 265-275 VND/TSC, an increase of 19 VND/TSC compared to the end of August of 2023.
CK
Source: VITIC/congthuong.vn