India is Vietnam's second largest rubber export market.

Rubber export price in May 2024 increased by 19.6% over the same period. A country unexpectedly increased rubber imports from the Vietnamese market.

The Import-Export Department (Ministry of Industry and Trade) cited statistics from the General Department of Vietnam Customs, saying that in May 2024, Vietnam exported 9.47 thousand tons of rubber to India, worth 15.83 million USD, up 7.2% in volume and 6.8% in value compared to April 2024; compared to May 2023, it decreased by 4.6% in volume but increased by 18.3% in value. In the first 5 months of 2024, Vietnam's rubber exports to India reached 47.23 thousand tons, worth 75.79 million USD, up 42.8% in volume and 63.5% in value compared to the same period in 2023.

Ấn Độ là thị trường xuất khẩu cao su lớn thứ hai của Việt Nam

In the first 5 months of 2024, Vietnam mainly exported natural rubber to the Indian market. Of which, the SVR 10 variety was exported the most, accounting for 61.81% of the total rubber exported to India with 29.19 thousand tons, worth 45.54 million USD, up 64.2% in volume and 87% in value compared to the same period in 2023.

Coming in second is the SVR 3L variety, accounting for 24.85% of the total rubber exported to India with 11.73 thousand tons, worth 19.6 million USD, a sharp increase of 99.9% in volume and 121.2% in value over the same period in 2023.

Ranked third, RSS3 accounted for 5.29% of the total rubber export volume to India with 2.5 thousand tons, worth 4.4 million USD, down 30.5% in volume and 21.2% in value compared to the same period in 2023.

In addition, in the first 5 months of 2023, exports of some rubber varieties to India also increased sharply compared to the same period in 2023 such as: SVR CV60, mixed rubber (HS: 4005), synthetic rubber, SVR 5... However, these varieties only account for a small proportion of the total rubber exported to India.

The average export prices of rubber varieties to India in the first 5 months of 2024 mostly increased compared to the same period in 2023, of which the strongest increases were: Latex increased by 28.3%; SVR 10 increased by 13.9%; RSS3 increased by 13.4%; SVR 3L increased by 10.6%; SVR CV60 increased by 9.4%...

According to statistics from the Indian Ministry of Commerce, in the first four months of 2024, South Korea, Ivory Coast, Thailand, Vietnam and Malaysia were the five largest markets supplying rubber to India. The amount of rubber imported by India from these markets all increased significantly compared to the same period in 2023.

In the first 4 months of 2024, Vietnam was the 4th largest rubber supplier to India with 40.31 thousand tons, worth 64.91 million USD, up 79% in volume and 93.1% in value over the same period in 2023. Vietnam's rubber market share in India's total rubber imports accounted for 9.82%, higher than the 6.39% level in the first 4 months of 2023.

Statistics show that, in the first 4 months of 2024, although Vietnam's rubber exports to India increased, they still faced competition from many markets such as Ivory Coast (accounting for 11.5% of India's total rubber imports); Thailand (accounting for 11.04% of India's total rubber imports). The volume and value of India's rubber imports from Ivory Coast and Thailand both increased significantly compared to the same period in 2023.

In the first 4 months of 2024, Vietnam was the second largest market supplying natural rubber to India, with 39.39 thousand tons, worth 63.26 million USD, up 79.2% in volume and 94% in value over the same period in 2023. Vietnam's natural rubber market share in India's total imports accounted for 24.77%, higher than the 15.29% level in the same period in 2023.

For synthetic rubber (HS 4002), Vietnam's market share accounts for only 0.32% of India's total imports.

Source: https://congthuong.vn/an-do-la-thi-truong-xuat-khau-cao-su-lon-thu-hai-cua-viet-nam-328470.html