In 2024, Vietnam will export 2 million tons of rubber, worth nearly 3.42 billion USD. In January 2025, the export of "white gold" still recorded growth, reaching 180,000 tons with an export value of 341 million USD. Thanks to high rubber prices, a domestic corporation has had a profit after tax of over 5,100 billion VND.
Among the group of 6 agricultural products that will bring in billion-dollar export turnover for Vietnam in 2024, only 2 items will continue to maintain their "performance" in January 2025. Accordingly, rubber and pepper still recorded growth in export turnover, although output has decreased somewhat.
According to the Ministry of Agriculture and Rural Development, in January 2025, the estimated rubber export volume reached 180,000 tons with an export value of 341 million USD, down 14.5% in volume but up 14.6% in value compared to the same period in 2024. The average export price of rubber in January 2025 is estimated at 1,892 USD/ton, up 34% compared to the same period in 2024.
In 2024, rubber exports will reach 2 million tons with a value of nearly 3.42 billion USD, down 6.2% in volume but up 18.2% in value compared to 2023. The average export price of rubber in 2024 will reach 1,701 USD/ton, up 26% compared to 2023.
In terms of market, China is still the leading market among all Vietnamese rubber consumption markets. In 2024, rubber exports to China will reach nearly 1.5 million tons, worth 2.4 billion USD, down 8.5% in volume but up nearly 11% in value compared to 2023. China accounts for 72% in volume and 71% in value of Vietnam's rubber exports in 2024.
In 2024, Vietnam's rubber exports will reach 2 million tons, worth nearly 3.42 billion USD. In January 2025, the export of "white gold" will still record growth, reaching 180,000 tons with an export value of 341 million USD. Photo: Nguyen Vy
According to the Vietnam Rubber Association (VRA), rubber export turnover will increase sharply in 2024, mainly due to the high export price of rubber. The price movement of rubber exported to China clearly shows the strong increase in the price of rubber exports in general over the past year.
Specifically, in January 2024, the average export price to China was 1,388 USD/ton, increasing to 1,433 USD/ton in February. In April, the average export price of rubber to China was 1,510 USD/ton, reaching an average of 1,619 USD/ton in July. In September 2024, the average export price was 1,724 USD/ton, and in November 2024 it was 1,905 USD/ton, 40% higher than in November 2023.
VRA believes that 2025 promises to continue to be a successful year for the Vietnamese rubber industry, forecasting that the total export turnover of the entire industry will reach 11-11.2 billion USD, an increase of 10% compared to 2024.
The sharp increase in world rubber prices not only has a positive impact on Vietnamese rubber prices but also helps rubber companies grow well in terms of revenue and profit.
The consolidated financial report for the fourth quarter of 2024 announced on January 24, 2025 by the Vietnam Rubber Industry Group stated that in the fourth quarter of 2024, the Group achieved net revenue of over VND 9,300 billion, while in the fourth quarter of 2023, it reached over VND 7,500 billion. In 2024, the Vietnam Rubber Industry Group recorded net revenue of over VND 26,000 billion.
Increased revenue helped after-tax profit in the fourth quarter of 2024 reach over VND 2,300 billion, an increase compared to the fourth quarter of 2023, reaching over VND 1,400 billion. In 2024, Vietnam Rubber Industry Group recorded after-tax profit of VND 5,100 billion.
Mr. Le Thanh Hung, General Director of Vietnam Rubber Industry Group, said that the increase in profit was mainly due to higher rubber prices compared to the same period last year. Profits in joint ventures and associated companies also increased compared to the same period last year.
Source: https://danviet.vn/vang-trang-duoc-gia-trung-quoc-chiem-71-kim-ngach-xuat-khau-mot-tap-doan-co-loi-nhuan-tren-5000-ty-20250217110245144.htm
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