Vietnam's rubber exports increased by nearly 55% in May
The Import and Export Bureau of the Ministry of Industry and Commerce of Vietnam predicts that in May 2021, Vietnam's rubber exports will reach about 80,000 tons, and the export value will reach 139 million US dollars. Compared with April 2021, the export volume has increased by more than 26%, and the export value has increased by 7.2%; compared with May 2020, the export volume has increased by 7.2%, and the export value has increased by nearly 55%.
The average rubber export price was US$1,738/ton, a decrease of 2.2% month-on-month and a year-on-year increase of 44.6%.
In the first five months of 2021, Vietnam's rubber export volume is estimated to reach 548,000 tons, with an export value of US$923 million. Compared with the same period in 2020, the export volume and export value have increased by 58.7% and 94%, respectively.
According to statistics from the General Administration of Customs of Vietnam, in the first four months of 2021, the mixture of natural rubber and synthetic rubber (HS: 400,280) is the most important rubber export product, accounting for 60.89% of the country’s total rubber exports, with an export volume of 285,09 million. Tons, an increase of more than 87% year-on-year, and the export value reached 459.18 million US dollars, an increase of 116.3% year-on-year.
Among them, exports to China accounted for 99.53% of the country's total exports of natural synthetic rubber mixtures. The export volume reached 283.74 million tons, an increase of 88.8% year-on-year. The export value reached US$45.65 million, an increase of 118.3% year-on-year.
In the first four months of 2021, exports of most rubber products have grown well compared with the same period in 2020. It is worth noting that the export volume and value of some rubber varieties such as Latex, RSS1, synthetic rubber, SVR 10, RSS3, and SVR 3L have all increased strongly over the same period in 2020.
In terms of export prices, in the first four months of 2021, in addition to the decline in the average export prices of synthetic rubber and recycled rubber, the average export prices of all types of rubber have increased over the same period in 2020.
Among them, the average export price of some rubber varieties rose sharply compared with the same period in 2020. For example, RSS1 increased by 34.9%, Latex increased by 32.6%, RSS3 increased by 29.8%, SVR CV60 increased by 27.9%, SVR 3L increased by 26.4% and so on.