By the end of the third quarter of 2023, rubber exports will earn 1.89 billion USD

Vietnam is a major rubber supplier to the EU. Vietnam is the 8th largest rubber supplier to Japan.

The Import-Export Department (Ministry of Industry and Trade) cited data from the General Department of Customs, saying that Vietnam's rubber exports in September 2023 were estimated at 210,000 tons, worth 270 million USD, down 5.6% in volume and 6.1% in value compared to August 2023; compared to September 2022, it increased by 8.5% in volume but decreased by 3.7% in value.

The average rubber export price is at 1,283 USD/ton, down 0.6% compared to August 2023 and down 11.2% compared to September 2022.

In the first 9 months of 2023, rubber exports are estimated to reach about 1.42 million tons, worth 1.89 billion USD, up 1.6% in volume but down 17.4% in value compared to the same period in 2022.

In the first 8 months of 2023, Vietnam's rubber export types were mainly natural rubber and synthetic rubber blends (HS 400280), Latex, SVR 10, SVR 3L, SVR CV60, RSS3, SVR 20...

Of which, the mixture of natural rubber and synthetic rubber (HS 400280) is still the most exported, accounting for 66.96% in volume and 67.67% in value of the country's total rubber exports, with 809.62 thousand tons, worth 1.1 billion USD, up 19.4% in volume, but down 3.4% in value compared to the same period in 2022.

Of which, exports to the Chinese market accounted for 99.73% in volume and 99.56% in value in the total mixture of natural rubber and synthetic rubber of the whole country, with 807.39 thousand tons, worth 1.09 billion USD, up 19.4% in volume, but down 3.5% in value compared to the same period in 2022.

In general, in the first 8 months of 2023, many types of rubber exports decreased in both volume and value compared to the same period in 2022.

However, the export of some rubber varieties still grew well compared to the same period in 2022, notably: Recycled rubber, Skim block, SVR CV40, RSS4... but these varieties only account for a small proportion of Vietnam's total rubber exports.

Regarding export prices, in the first 8 months of 2023, the average export prices of all rubber varieties decreased sharply compared to the same period in 2022, of which the prices with the sharpest decreases were: Skim block decreased by 28.1%; Latex decreased by 24.3%; RSS3 decreased by 22.7%; mixed rubber (HS: 4005) decreased by 22.4%; SVR 10 decreased by 20.9%...

In the world market, in September 2023, rubber prices on major Asian exchanges were supported by market optimism about China's fiscal policy and strong crude oil prices. Oil prices rose to their highest level in more than a year, encouraging users to switch from petroleum-based synthetic rubber to natural rubber.

In the domestic market, in September 2023, the price of raw rubber latex tended to increase compared to the previous month. Currently, the purchase price of rubber latex in Binh Phuoc fluctuates at 265-285 VND/TSC, an increase of 10 VND/TSC compared to the end of August 2023; in Dong Nai, it fluctuates at 255-265 VND/TSC, an increase of 10 VND/TSC.

Meanwhile, in raw material areas in the provinces of Dak Lak, Dak Nong, Gia Lai, Kon Tum, Lam Dong and Binh Duong, Ho Chi Minh City, latex prices fluctuated at 240-270 VND/TSC, a slight increase compared to the end of August 2023. At rubber companies, latex prices were also adjusted up.

Phuoc Hoa Rubber Company recorded an increase of 20 VND/TSC, pushing the purchase price to 293-295 VND/TSC; Phu Rieng rubber latex price fluctuated at 265-285 VND/TSC, an increase of 15 VND/TSC compared to the end of August 2023. Binh Long Rubber Company kept it at 265-275 VND/TSC, an increase of 6 VND/TSC. Ba Ria Rubber Company adjusted the purchase price of latex to 265-275 VND/TSC, an increase of 19 VND/TSC compared to the end of August 2023.

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