Import-Export Department (Ministry of Industry and Trade) cited statistics from General Department of Customs, saying that in October 2024, Vietnam exported 4,250 tonnes of rubber to the US, worth 7.78 million USD, up 21.9% in volume and 28.6% in value compared to September 2024; compared to October 2023, it increased by 44.1% in volume and 97.7% in value.
In the first 10 months of 2024, Vietnam's rubber exports to the United States reached 24,420 tonnes, worth 41.51 million USD, up 19% in volume and 79.3% in value over the same period in 2023. In October 2024, average price of rubber exported to the United States reached 1,831 USD/ton, up 5.4% over September 2024 and up 37.2% over October 2023. In the first 10 months of 2024, average export price of rubber to this market reached 1,700 USD/tonne, an increase of 25.4% over the same period in 2023. In general, average export price of all types of rubber to the US increased sharply compared to the same period in 2023. Out of which, the strongest increase was SVR 20, up 56.3%; RSS1 increased 33.1%; Latex increased 31.1%; RSS3 increased 27.3%; SVR 10 increased 26.9%; SVR CV60 increased 25.7%; SVR 3L increased 25.7%...
In the first 10 months of 2024, Vietnam exported mainly natural rubber to the US. Of which, Latex variety is exported the most, accounting for 31.66% of total rubber exported to the United States, with 7,730 tonnes, worth 10.09 million USD, up 78% in volume and 123.9% in value compared to the same period in 2023.
The second is SVR CV60 variety, accounting for 26.84% of total rubber exported to the United States with 6,550 tonnes, worth 12.3 million USD, up 44.6% in volume and 81.8% in value compared to the same period in 2023.
Followed by SVR 3L, accounting for 26.05% of total rubber exported to the US market with 6,360 tonnes, worth 11.71 million USD, up 20% in volume and 50.8% in value compared to the same period in 2023. In addition, in the first 10 months of 2023, export volume and value of some rubber varieties to the United States also increased sharply compared to the same period in 2023 such as: RSS1, RSS3, SVR 20; while export of some varieties such as: SVR CV50, SVR 10, SVR 5 to the United States decreased sharply compared to the same period in 2023.
Recently, although rubber exports to the United States have increased again, Vietnam's rubber market share in the United States has gradually improved but still accounts for a low market share in total imports of the United States, so Vietnam's rubber still has room to increase exports to this market.
It is forecasted that Vietnam's rubber exports to the United States will be more positive in the last months of 2024. However, many experts say that Vietnam's rubber exports to the United States are currently facing many obstacles. Competition in output and quality from other major suppliers is always a challenge for Vietnamese export enterprises.
To export rubber to the United States, Vietnamese enterprises need to actively develop industry further in a sustainable direction, increasing area certified for sustainable forest management. In addition, export enterprises need to pay attention to complying with strict technical barriers of the US market to avoid orders being returned due to not fully meeting import regulations.

Source: Vitic/ congthuong.vn