Exporting rubber benefits from the compound interest in 2022

illustration image. Source: Internet

According to the Import-Export Department (Ministry of Industry and Trade), in January 2022, the price of Vietnamese rubber tended to increase slightly. The price of rubber latex of small landowners fluctuates around VND290-350/TSC.

In Binh Phuoc, the purchase price of latex of Phu Rieng Rubber Company fluctuates at VND300-340/TSC. In Binh Duong, the purchasing price of raw rubber latex of Phuoc Hoa Rubber Company fluctuates at VND348 -350/TSC. In Dong Nai, the purchase price of raw rubber latex fluctuates at VND323/TSC.

In 2022, the world rubber market expects the recovery of the global economy, after major central banks launch relief packages.

The world rubber price is likely to increase in the first quarter of 2022 because the global supply of natural rubber is expected to be short because the supply of rubber in Southeast Asia is affected by bad weather.

Meanwhile, import and export activities are facing difficulties due to the pandemic. Seaports have difficulty operating when the shortage of containers is quite serious. In January 2022, the price of natural rubber at Asian exchanges experienced many fluctuations.

Specifically, at the Osaka Exchange (Japan), the price reached the highest level of the month on January 19, 2022 (at 238.4 yen/kg), then decreased again. However, it still increased compared to the end of 2021.

On January 26, 2022, the price of RSS3 rubber traded at 223.7 yen/kg (equivalent to US$1.96/kg), up 0.4% compared to the end of December 2021 but it decreased by 3.6% over the same period in 2021.

At the Shanghai Futures Exchange (China), rubber prices rose to a monthly high on January 19, 2022 (at 14,925 yuan/ton), then fell sharply.

On January 26, 2022, the price of RSS3 rubber was at 14,220 yuan/ton (equivalent to US$2.25/kg), down 2% compared to the end of December 2021, but it increased by 0.6% compared to the same period in 2021. Investors in Shanghai are worried that Chinese rubber demand will slow because of the strong outbreak of Covid-19 in this country.

In Thailand, after increasing to 61.7 Baht/kg on January 21, 2022, rubber prices fell again. However, it still increased compared to the end of 2021. On January 26, 2022, RSS3 rubber prices were at 61 Baht/kg (equivalent to US$1.85/kg), an increase of 61% compared to the end of December 2021 and an increase of 3.8% over the same period in 2021.