Preliminary calculations show that Vietnam's average rubber export price in August 2023 is at 1,298 USD/ton. This number is down 0.6% compared to July 2023 and down 14.4% compared to August 2022.
The average rubber export price in August 2023 is at 1,298 USD/ton, down 0.6% compared to July 2023 and down 14.4% compared to August 2022
Domestic rubber latex purchasing price is stable
The Import-Export Department (Ministry of Industry and Trade) and the Industry and Trade Information Center said that in August 2023, the price of rubber latex in domestic raw material areas remained at 240-280 VND/TSC. .
Specifically, the price of latex in Dak Lak province is stable at 240-245 VND/TSC; In Binh Phuoc province, the price of latex remains in the range of 245-280 VND/TSC; In Dak Nong and Phu Yen provinces, latex prices are at 260-265 VND/TSC; In Quang Tri, Binh Duong and City provinces. In Ho Chi Minh City, latex prices are stable at 250-255 VND/TSC.
At rubber companies, the purchasing price of latex is in the range of 250-272 VND/degree. Of which, Phuoc Hoa Rubber Company purchased at 270-272 VND/degree, an increase of 2 VND/degree compared to the previous 10 days; The price of latex at Phu Rieng Rubber Company is stable at 250-270 VND/degree; Dong Phu Rubber Company maintains the level of 270 VND/degree; Binh Long Rubber Company kept it at 259-269 VND/degree. Meanwhile, Ba Ria Rubber Company adjusted the purchasing price of latex to 251-256 VND/degree, an increase of 11 VND/degree compared to the end of last month.
Rubber export prices in August 2023 decreased by 14.4% over the same period.
It is estimated that Vietnam's rubber exports in August 2023 will reach about 200,000 tons, worth 260 million USD, down 8.9% in volume and 9.5% in value compared to July 2023; Compared to August 2022, it decreased by 8.8% in volume and 21.9% in value.
The average rubber export price in August 2023 was at USD 1,298/ton, down 0.6% compared to July 2023 and down 14.4% compared to August 2022.
Accumulated in the first 8 months of 2023, rubber exports reached about 1.18 million tons, worth 1.59 billion USD, down 1.4% in volume and down 20.7% in value compared to the same period in 2022. .
Statistics show that, in the first 7 months of 2023, Vietnam's exported rubber products are mainly a mixture of natural and synthetic rubber (HS 400280), Latex, SVR 10, SVR 3L, SVR CV60, RSS3, SVR 20...
In which, the mixture of natural rubber and synthetic rubber (HS 400280) is still the most exported product, accounting for 66.6% in volume and 66.95% in value in total rubber exports. of the whole country, with 656.99 thousand tons, worth 895.06 million USD, up 19.3% in volume, but down 4.7% in value over the same period in 2022. In which, exports to China The country accounted for 99.69% in volume and 99.54% in value in total exports of mixed natural rubber and synthetic rubber, with 654.96 thousand tons, worth $890.98 million, up 19.3% in volume, but down 4.8% in value compared to the same period in 2022.
Also in the first 7 months of 2023, many types of rubber exports decreased in both volume and value compared to the same period in 2022. However, exports of some types of rubber still grew well compared to the same period last year. 2022, notable among which are: SVR CV40, Skim block, recycled rubber, RSS1... but these types only account for a small proportion of Vietnam's total rubber exports.
Regarding export prices of rubber types, in the first 7 months of 2023, the average export price of rubber types all decreased sharply compared to the same period in 2022, of which the sharpest decrease was Skim block, down 27, 9%; Latex down 25.4%; RSS3 down 23%; Mixed rubber (HS: 4005) decreased by 22.4%; SVR 10 down 21.2%...
According to the Association of Natural Rubber Producing Countries (ANRPC), it is forecast that in 2023 global natural rubber output will reach about 14,916 million tons, consumption will reach 14,912 million tons. It is expected that the global rubber supply shortage will increase in the following years until 2028 and may last until 2031 due to the growing gap between supply and demand. The natural rubber industry has escaped a long period of excess supply.
Observers said that in the coming period, rubber prices are likely to recover in the context that oil prices are still anchored at high levels, newly planted rubber output decreases, causing supply to be controlled, and China's rubber industry. recover.
General financial site Trading Economics (USA) forecast that rubber price will trade around 1.27 USD/kg by the end of the third quarter of this year and is likely to decrease slightly around 1.21 USD/kg in 12 months. next month.
