Rubber export price in November 2023 increased slightly

The Import-Export Department (Ministry of Industry and Trade) cited statistics from the General Department of Customs, saying that it is estimated that Vietnam's rubber exports in November 2023 reached about 250 thousand tons, worth 343 million USD, up 14.5% in volume and 16.6% in value compared to October 2023; but compared to November 2022, it decreased by 1.4% in volume and 0.4% in value.

Rubber export price in November 2023 increased slightly

The average rubber export price in November 2023 was at 1,370 USD/ton, up 1.8% compared to October 2023 and up 1% compared to November 2022.

In the first 11 months of 2023, rubber exports reached about 1.87 million tons, worth 2.51 billion USD, down 0.2% in volume and 14.9% in value over the same period in 2022.

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

Of which, natural rubber and synthetic rubber mixture (HS 400280) is still the most exported item, accounting for 67.51% in volume and 68.66% in value of the country's total rubber exports, with over 1.09 million tons, worth 1.48 billion USD, up 16.4% in volume, but down 1.9% in value compared to the same period in 2022.

Of which, exports to the Chinese market account for 99.77% in volume and 99.62% in value in the total mixture of natural rubber and synthetic rubber of the whole country.

In the world market, in November 2023, rubber prices on key Asian exchanges fluctuated in an upward trend amid low inventories raising concerns about tight supplies, while China's efforts to boost its economy and real estate sector led to optimism about demand for the world's top consumer.

In the domestic market, in November 2023, the price of raw rubber latex nationwide decreased compared to the previous month. At rubber companies, the price of latex is currently maintained at around 270 - 313 VND/TSC.

Of which, Phuoc Hoa Rubber Company reduced its purchase price to 311 - 313 VND/TSC, down 2 VND/TSC compared to the end of last month. Phu Rieng Rubber Company kept its purchase price at 285 - 305 VND/TSC.

Ba Ria Rubber Company adjusted the purchase price of latex down to 280-290 VND/TSC, down 5 VND/TSC compared to the end of last month. Binh Long Rubber Company adjusted the purchase price down to 285-295 VND/TSC, down 7 VND/TSC compared to the end of last month. Mang Yang Rubber Company adjusted the purchase price down to 270-278 VND/TSC, down 2 VND/TSC compared to the end of last month.

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