According to estimates from the Import-Export Department (Ministry of Industry and Trade), Vietnam exported approximately 779,000 tons of natural rubber worth USD 1.35 billion in the first six months of 2022, marking a 9.2% increase in volume and a 12.2% rise in value compared with the same period in 2021.
However, Vietnam’s market share in China’s total rubber imports has yet to recover to pre-pandemic levels.
June 2022: Export Volume Rises 57.7% Month-on-Month
Table of Contents
In June 2022, Vietnam’s rubber exports were estimated at 180,000 tons, valued at USD 297 million, up 57.7% in volume and 52.6% in value from May 2022. Compared to June 2021, exports rose 10.4% in volume and 8.1% in value.
The average export price was USD 1,651 per ton, down 3.2% from May 2022 and 2.1% lower year-on-year.
Asian Rubber Prices Rebounded Strongly in Late June
In the latter half of June, rubber prices on major Asian exchanges rebounded after early-month declines.
-
At the Osaka Exchange (OSE) in Japan, prices dropped to 248.8 yen/kg on June 16, 2022, before rising sharply. By June 28, RSS3 July 2022 contracts traded at 262 yen/kg (≈ USD 1.93/kg) — up 7.6% month-on-month and 10.4% year-on-year.
-
On the Shanghai Futures Exchange (SHFE), prices fell to 12,400 yuan/ton on June 22, 2022, then recovered steadily toward month-end. On June 28, RSS3 July 2022 contracts stood at 12,795 yuan/ton (≈ USD 1.91/kg) — down 2.3% from May 2022 and 1.3% year-on-year.
Global Rubber Market: Supply Still Lags Behind Demand
According to the Association of Natural Rubber Producing Countries (ANRPC), global natural rubber supply in May 2022 reached 991,000 tons, up 5.3% from April 2022. Meanwhile, demand was estimated at 1.189 million tons, resulting in a shortfall of 198,000 tons.
ANRPC forecasts that global supply shortages will persist in the coming years as demand continues to outpace production.
Domestic Market: Latex Prices Decline Slightly
In Vietnam, latex prices declined slightly in June 2022 compared with the end of May.
-
In Binh Phuoc, Phu Rieng Rubber Company purchased latex at VND 300–323/TSC, down VND 5–22/TSC.
-
In Binh Duong, Phuoc Hoa Rubber Company’s buying price ranged from VND 323–325/TSC, down VND 15–17/TSC.
-
In Gia Lai, Mang Yang Rubber Company bought latex at VND 295–305/TSC, a VND 10/TSC decrease.
Despite minor declines, export demand and global pricing recovery are expected to support the rubber sector in the latter half of 2022.