Rubber exports grows sharply in June

VCN - According to Import – Export Tax Department (Ministry of Industry and Trade), Vietnam's rubber exports in June 2024 reached about 150 thousand tons, worth 238 million USD, up 77.6% in volume and 76.6% in value. Price compared to May 2024.
Illustration image.
Illustration image.

Cumulative rubber exports in the first six months of 2024 reach 722,000 tons, valued at US$1.09 billion. This represents a 5.8% decrease in volume but a 4.5% increase in value compared to the same period in 2023. Vietnam's rubber exports have maintained stability due to high rubber prices and consistent consumption levels.

According to the Vietnam Rubber Association (VRA), Vietnam's annual rubber latex production stands at 1.3 million tons from 910,000 hectares of rubber plantations. However, only 70-75% of these are mature rubber trees ready for tapping.

Over 300,000 tons of rubber are utilized domestically for processing each year. The remaining substantial volume of rubber raw materials is exported. This presents a significant opportunity for further expanding rubber exports, especially considering the potential for continued global supply shortages in 2024-2025.

According to Import – Export Tax Department, global demand for natural rubber is projected to maintain a growth rate of 4-6% annually. This is driven primarily by the recovery of the automotive and tire industries, particularly in China. Other markets such as Thailand and India are also witnessing positive growth in tire production and exports. China's demand will remain a key factor influencing Vietnam's rubber export activities in the coming period.

By Ngọc Linh/Thanh Thuy

Related News

Chinese goods flock to Vietnam in the first half of 2024

Chinese goods flock to Vietnam in the first half of 2024

VCN - In the first 6 months of 2024, the import turnover of goods from China to Vietnam will grow strongly by tens of percent compared to the same period in 2023.
Agricultural, forestry and fishery product exports reached US $ 29.2 billion in the first half of the year

Agricultural, forestry and fishery product exports reached US $ 29.2 billion in the first half of the year

VCN - In the first six months of the year, total export turnover of agricultural, forestry and fishery products reached US $29.2 billion, up 19% over the same period in 2023.
Enterprises self- renovate to promote exports to the Central region

Enterprises self- renovate to promote exports to the Central region

VCN - Opportunities to cooperate and promote the export of products of Central region enterprises directly into foreign distribution networks and effectively participate in the global production value chain... are assessed to have a lot of potential.
Shifting production to expand exports to the Northern European market

Shifting production to expand exports to the Northern European market

VCN - Nordic countries often map out policies to achieve EU goals sooner than others. Among them, general principles and standards regulating manufacturers' responsibilities for textiles and garments from Nordic countries need to be paid attention by businesses.

Latest News

Warnings as HRC steel imports continue to increase rapidly

Warnings as HRC steel imports continue to increase rapidly

The amount of imported hot-rolled coil steel in the first six months of this year increased sharply to an alarming level, 1.7 times higher than domestic production.
MoIT warns about international trade fraud

MoIT warns about international trade fraud

Trade experts said that the number of cases was increasing and taking place in all markets from Africa, the Middle East, India to developed countries such as the US, the Netherlands, and Italy.
Corporate culture "lighting the way" for sustainable development

Corporate culture "lighting the way" for sustainable development

VCN - The government aims to cultivate and develop numerous business leaders capable of heading strong economic conglomerates by 2030, leveraging their roles to lead and pave the way. To achieve this goal, financial strength alone is not enough; a robust foundation in business culture is essential.
The fast-moving consumer goods industry aims for green and sustainable development

The fast-moving consumer goods industry aims for green and sustainable development

VCN - Vietnam's consumer goods industry currently has the fastest growth rate in the ASEAN region. However, for sustainable development in the future, businesses in the fast-moving consumer goods industry need to aim for green consumption.

More News

Stronger “medicine” needed to help businesses overcome difficulties

Stronger “medicine” needed to help businesses overcome difficulties

Businesses have suggested the Government maintain its support to help them overcome difficulties, recover production and business activities, and promote growth, given the fact that many of them still face difficulties despite the country’s GDP growth rate of 6.42% in the first half of this year.
Insiders optimistic about durian export to China

Insiders optimistic about durian export to China

Insiders believe in a bright prospect for durian export to China though the world’s largest durian consumer is expanding the cultivation of this fruit.
Vietnam

Vietnam's cashew industry facing fluctuations in raw material prices

VCN - Although exports recorded double-digit growth in the first half of 2024, Vietnam's cashew industry is facing fluctuations in raw material prices.
Many seafood enterprises focus on developing the domestic market

Many seafood enterprises focus on developing the domestic market

VCN - In addition to promoting exports, many seafood businesses are expanding their market share in the domestic market to complete their plans.
Vietnamese companies seek to bring goods to modern distribution systems

Vietnamese companies seek to bring goods to modern distribution systems

Boosting consumption and export of goods through modern distribution systems is an effective way helping producers increase sale and broaden market share, heard an event in Ho Chi Minh City on July 19.
Vietnam’s fishery products standing firm in Singapore

Vietnam’s fishery products standing firm in Singapore

Statistics in the first half of this year show that for the first time, Vietnam’s fishery products maintained its position as the fifth largest partner in Singapore for the second consecutive quarter
Stronger “medicine” needed to help businesses overcome difficulties

Stronger “medicine” needed to help businesses overcome difficulties

Businesses have suggested the Government maintain its support to help them overcome difficulties, recover production and business activities, and promote growth, given the fact that many of them still face difficulties despite the country’s GDP growth rate of 6.42% in the first half of this year.
Bank profits improve but there are no expectations

Bank profits improve but there are no expectations

VCN - According to assessments of credit institutions, the overall business situation and pre-tax profit of the banking system in the second quarter of 2024 has improved but is not really clear in the first quarter. and did not meet expectations.
Cambodia is Việt Nam

Cambodia is Việt Nam's largest source of cashew nuts

Việt Nam imported nearly 1.5 million tonnes of cashew nuts in the first six months of this year, worth US$1.8 billion.
Read More

Your care

Latest Most read
Warnings as HRC steel imports continue to increase rapidly

Warnings as HRC steel imports continue to increase rapidly

The amount of imported hot-rolled coil steel in the first six months of this year increased sharply to an alarming level, 1.7 times higher than domestic production.
MoIT warns about international trade fraud

MoIT warns about international trade fraud

Trade experts said that the number of cases was increasing and taking place in all markets from Africa, the Middle East, India to developed countries such as the US, the Netherlands, and Italy.
Enterprises self- renovate to promote exports to the Central region

Enterprises self- renovate to promote exports to the Central region

Opportunities to cooperate and promote the export of products of Central region enterprises directly into foreign distribution networks and effectively participate in the global production value chain... are assessed to have a lot of potential.
Corporate culture "lighting the way" for sustainable development

Corporate culture "lighting the way" for sustainable development

VCN - In October 2023, the Politburo issued Resolution No. 41-NQ/TW on building and promoting the role of the Vietnamese business community in the new era (Resolution 41). The resolution emphasizes the task of developing business ethics and culture, promo
The fast-moving consumer goods industry aims for green and sustainable development

The fast-moving consumer goods industry aims for green and sustainable development

VCN - Vietnam's consumer goods industry currently has the fastest growth rate in the ASEAN region. However, for sustainable development in the future, businesses in the fast-moving consumer goods industry need to aim for green consumption.
Mobile Version