June 29, 2022 | 13:21 GMT +7
June 29, 2022 | 13:21 GMT +7
Harvest of rubber latex at Ba Ria Rubber Joint Stock Company. Photo: Thanh Son.
According to estimations from the Agency of Foreign Trade (Ministry of Industry and Trade), Vietnam's rubber exports in May 2022 reached approximately 110,000 tons, worth $181 million USD, up 40% in quantity and 28% in value compared to April 2022. Rubber exports also increased 33% in quantity and 26.4% in value compared to May 2021.
The export price of rubber in May 2022 reached an average of $1,645/ton, down nearly 9% compared to April 2022 and down 5% compared to May 2021.
Over the first five months of 2022 rubber exports reached approximately 595,000 tons, worth $1.04 billion, up 8% in quantity and 12% in value over the same period in 2021.
In the first four months of 2022 Vietnam's exported rubber products were mainly mixtures of natural and synthetic rubber, including SVR3L, SVR10, Latex, RSS3, and SVRCV60. The mixtures of natural and synthetic rubber are the most exported products, accounting for 60% of the country's total rubber exports, reaching 291,000 tons, worth $508 million, up 2.3% in quantity and up 10.6% in value over the same period in 2021.
Rubber exports to China accounted for 99.7% of the country's total export of the mixtures of natural and synthetic rubber, reaching 209,000 tons, worth $506 million, up 13.6% in quantity, and up 23% in value over the same period in 2021.
Over the first four months of 2022 many types of rubber exports increased sharply in both quantity and value compared to the same period in 2021. Synthetic rubber, mixed-rubber, SVR20, Skim block, SVR10 and RSS3 are notable examples, however these types only account for a small proportion of Vietnam's total rubber exports.
Over the first four months of 2022 the average export price of some types of rubber increased compared to the same period in 2021, notably SVR10, synthetic rubber, SVR20 and SVR5.
Translated by Hoang Duy
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