In the first 8 months of 2024, Vietnam's rubber exports earned more than 1.7 billion USD

Reduced demand from the Chinese market cools down rubber prices. In July 2024, India became Vietnam's second largest rubber export market.

According to preliminary data from the General Department of Customs, Vietnam's rubber exports in August 2024 reached about 209,726 tons, worth nearly 345 million USD, up 12.7% in volume and 12.0% in value compared to July 2024. The average export price of rubber was at 1,637 USD/ton, down about 1.1% compared to July 2024, but up about 26.8% compared to August 2023.

Accumulated in the first 8 months of 2024, rubber exports reached about 1.12 million tons, worth 1.76 billion USD, down 7.2% in volume, but up 8.4% in value over the same period in 2023.

With the results achieved in the first 8 months of 2024, rubber exports for the whole year of 2024 are forecast to reach about 3-3.5 billion USD, an increase of 200-400 million USD compared to 2023.

Giá xuất khẩu tăng cao, ngành cao su hướng tới mục tiêu 3 -3,5 tỷ USD

Export prices increase, rubber industry aims for 3-3.5 billion USD. Illustrative photo

According to information from the Import-Export Department (Ministry of Industry and Trade), in the first 7 months of 2024, HS 400280 was still the most exported item of our country, accounting for 55.3% of the total rubber export volume of the country, with 504.8 thousand tons; value reached 781.2 million USD, down 23.2% in volume and down 12.7% in value compared to the same period in 2023.

Regarding export prices, in the first 7 months of 2024, the average export prices of most rubber varieties increased sharply compared to the same period in 2023 such as: RSS1 increased by 26.9%; Latex increased by 26.3%; Skim block increased by 25%; RSS3 increased by 23%; SVR 10 increased by 18.9%; SVR 5 increased by 18.7%; SVR CV50 increased by 18.3%...

Source: https://congthuong.vn/8-thang-nam-2024-xuat-khau-cao-su-cua-viet-nam-thu-ve-hon-17-ty-usd-346041.html