Deep processing increases rubber export value to the United States

According to the latest report of the Import-Export Department, in April 2024, the United States was Vietnam's 10th largest rubber export market.

According to statistics from the General Department of Customs, in April 2024, Vietnam exported nearly 1,009 tons of rubber to the United States with a value of 1.87 million USD, up 0.3% in volume and 17.5% in value compared to April 2023.

Therefore, in the first 4 months of 2024, Vietnam's rubber exports to the United States reached nearly 7,460 tons, worth 11.7 million USD, up 37.1% in volume and 58.2% in value over the same period in 2023.

The United States is Vietnam's 10th largest rubber export market. (Illustration photo)

The Import-Export Department also said that recently, rubber exports to the United States have increased again, and Vietnam's rubber market share in the United States has gradually improved, but it only accounts for a low market share in the total imports of the United States, so Vietnam's rubber still has a lot of room to export to this market. It is forecasted that Vietnam's rubber exports to the United States will be more positive in 2024.

However, many experts say that Vietnam’s rubber exports to the United States are currently facing many obstacles. Competition from major rivals in terms of output and quality is always a big challenge for Vietnamese export enterprises.

According to General Secretary of the Vietnam Rubber Association Vo Hoang An, in order to increase rubber exports to the United States, Vietnamese enterprises need to actively develop the industry further in a sustainable direction, increasing the area certified for sustainable forest management to gain advantages in supplying materials and products to manufacturers in the US market.

In addition, exporting businesses need to pay attention to clearly understanding and complying with the strict technical barriers of the US market to avoid orders being returned due to not fully meeting import regulations.

From a business perspective, Mr. Do Minh Tuan - General Director of Dong Nai Rubber Corporation Limited Company (Dong Nai Rubber Corporation) - said that the unit will diversify latex product types, produce products according to customer requirements, have high added value, and produce products with the company's own brand.

Source: https://congthuong.vn/che-bien-sau-gia-tang-gia-tri-xuat-khau-cao-su-sang-hoa-ky-323838.html