Import-Export Department (Ministry of Industry and Trade) cited statistics from General Department of Vietnam Customs, saying that in July 2024, Vietnam exported 16,120 tonnes of rubber to India, worth 28.48 million USD, up 50.4% in volume and 56% in value compared to June 2024; down 3.7% in volume but up 25.2% in value compared to July 2023. Thus, in July 2024, India was Vietnam's second largest rubber export market.
In the first 7 months of 2024, Vietnam's rubber exports to India reached 74,270 tonnes, worth 122.89 million USD, up 19.9% in volume and 42.9% in value over the same period in 2023.
In the first 7 months of 2024, Vietnam exported mainly natural rubber to India. Of which, SVR10 rubber was exported to India the most, accounting for 55.12% of total rubber exported to India with 40,940 tonnes, worth 65.1 million USD, up 39.9% in volume and 62.8% in value over the same period in 2023.
Ranked second was SVR3L rubber, accounting for 25.86% of total rubber exported to India, with 19,200 tonnes, worth 33.16 million USD, up 30.5% in volume and 52.6% in value over the same period in 2023.
Ranked third was RSS3 rubber, accounting for 7.72% of total rubber exported to India with 5,730 tonnes, worth 10.61 million USD, down 9.3% in volume, but up 10.4% in value over the same period in 2023.
Although export volume and value of some rubber varieties to India decreased compared to the same period in 2023 such as: Latex, SVR 20, SVR CV50, RSS1... However, export of some rubber varieties still grew well such as: SVR CV60, SVR 5, synthetic rubber...
In the first 7 months of 2024, average export price of rubber varieties to India mostly increased compared to the same period in 2023, of which, the strongest increase was Latex up 31.6%; RSS1 up 31%; RSS3 up 21.7%; SVR 3L up 17%; SVR 10 up 16.4%; SVR CV60 up 15.6%; SVR CV50 up 15.3%...Import-Export Department commented that in the coming time, due to lack of domestic supply, India is expected to increase rubber imports, thereby positively affecting Vietnam's rubber exports. Indian rubber output decreased due to unfavorable weather conditions, output in the 2023/24 crop year is estimated at 857,000 tonnes, while consumption demand is up to 1.4 million tonnes. This shows that natural rubber imports into India will continue to increase in the coming time.
Currently, India's automobile and medical equipment manufacturing industries are recording positive growth, leading to increased demand for natural rubber. Normally, Indian manufacturers will increase rubber imports before the market enters the rainy season, making rubber exploitation difficult. But this year, imports are facing many difficulties due to port congestion and a lack of empty containers.

Source: Vitic/ congthuong.vn