In the first 9 months of 2020, rubber export is estimated at 1.45 billion USD

The Import and Export Department estimated that Vietnam’s rubber export in September 2020 reached 230 thousand tons, worth US $ 296 million, up 3% in volume and 7.6% in value compared to August 2020. ; an increase of 52.9% in volume and 50.2% in value compared to September 2019; The average export price decreased 1.7% over the same period in 2019, down to 1,287 USD / ton.

In the first 9 months of 2020, rubber export is estimated at 1.45 billion USD

Generally, in the first 9 months of 2020, rubber exports were estimated at 1.14 million tons, worth $ 1.45 billion, up 2.4% in volume, but down 4% in value over the same period in 2019, The average export price decreased 6.2% over the same period in 2019 to 1,278 USD / ton.

In the first 8 months of 2020, the mixture of natural rubber and synthetic rubber (HS: 400280) is the most exported commodity, accounting for 66% of the country’s total rubber export volume, reaching 598.8 thousand tons, worth 762.81 million USD, up 30.4% in volume and 21.4% in value over the same period in 2019. Of which, exports to China accounted for 99.3% of the total mixed volume. natural rubber and synthetic rubber for export in the first 8 months of 2020.

According to Taiwan Finance Authority, in the first 8 months of 2020, Vietnam is the 7th largest market supplying rubber to the Taiwan market with 11.68 thousand tons, worth 16.94 million USD. down 6.7% in volume and 9.3% in value. Vietnam’s rubber market share in the total rubber imports of the Taiwan market also decreased slightly from 7% in the first 8 months of 2019 to 6.9% in the first 8 months of 2020.

Particularly for natural rubber, in the first 8 months of the year, Vietnam was the third largest natural rubber supplier to the Taiwan market, reaching 11.04 thousand tons, worth $ 16.14 million, down 11 % in volume and down 12.7% in value over the same period in 2019. Natural rubber products exported to Taiwan under WTO commitments have a tax rate of 0% and basically no barriers due to group This product does not compete with domestic products.

For synthetic rubber, the main supply market structure for Taiwan market in the first 8 months of 2020 has changed when the market share of synthetic rubber of Japan, Korea, and Singapore decreased, while the market share of of China and the United States increased. The share of Vietnamese synthetic rubber in the total import of the Taiwan market only accounts for 0.4%.

In the domestic market, in September 2020, the price of raw rubber latex across the country tended to increase with the price of the world market. On September 29, 2020, latex purchasing price of Phu Rieng Rubber One-Member Company Limited was 290 VND / TSC, an increase of 10 VND / TSC compared to the end of August 2020; The buying price of trash latex was adjusted to 250 VND / TSC, an increase of 5 VND / TSC compared to the end of August 2020. In September 2020, Dong Nai Rubber One Member Company Limited also announced three times to adjust the purchase price of rubber latex. On September 24, 2020, the purchase price of latex type 1 was adjusted to 280 VND / TSC, an increase of 5 VND / TSC compared to September 17, 2020; The purchase price of latex type 2 was also adjusted to 280 VND / TSC, an increase of 5 VND / TSC compared to September 17, 2020.