Vietnam earns 160 million USD from rubber exports in Feb

Workers at a rubber factory in the southern province of Binh Phuoc. (Photo: VNA)

Vietnam shipped 110,000 tonnes of rubber abroad last month, earning more than 160 million USD, according to the Ministry of Agriculture and Rural Development (MARD).

The February figure brought the country’s total rubber exports in the first two months of 2024 to 320,000 tonnes, worth 458 million USD.

China remained Vietnam’s largest rubber buyer, importing 227,000 tonnes for 317 million USD, an increase of 10.1% in volume and 14.4% in value compared to the same period last year.

Meanwhile, the Southeast Asian country's rubber exports to major international markets, including the Republic of Korea, the US, Germany, Russia, Italy, Brazil, Spain and Turkey, have all increased.

Vietnamese rubber fetched 1,481 USD per tonne in international markets, an increase of 5% compared to January.

Industry experts said there are several contributing factors to the rise in rubber prices, with the largest factor being the booming car sales in China. As a result, demand for tyres for new cars in China has increased by 30%, boosting demand for natural rubber, and this trend will likely continue in the coming months./.