Rubber exports to major markets are currently decreasing, but the coming policies of China and the United States can create momentum to increase rubber exports from Vietnam to these markets.
Demand for rubber increased by 1.2% over the same period in October 2021 - Illustration
According to statistics of the General Department of Customs, 10 months of 2022, rubber exports to the Chinese market reached 1.16 million tons, worth 1.81 billion USD, up 11.5% in volume and 6. .8% in value over the same period in 2021; the average export price reached 1,551 USD/ton, down 4.2% over the same period in 2021.
In the first 10 months of 2022, Vietnam's rubber products exported to China are mainly natural rubber mixtures; synthetic rubber (HS: 400280) and natural rubber. In which, mixed types of natural rubber and synthetic rubber are exported to China the most, accounting for 80.1% of the total amount of rubber exported to China. The second place is the Latex category with 13.6% and the third is SVR 10 with 1.8%.
The average export price of most types of rubber to China decreased compared to the same period in 2021 such as: Mixed natural rubber and synthetic rubber decreased by 1.8%; Latex down 3.1%; SVR 10 decreased by 3.1%; SVR 3L down 6%; RSS3 dropped 9.1%; SVR CV60 down 6.3%...
In the past time, Vietnam's rubber exports to China have faced difficulties because the country is facing a real estate crisis, heat waves disrupting production activities, causing rubber prices to be exported to China. this decrease. In addition, restrictive measures to prevent COVID-19 also affect industrial production and consumption.
In the coming time, it is predicted that rubber prices will recover after the Chinese Government commits to introduce phased policies to stabilize the economy and restore consumption.
For the US market, according to statistics from the US International Trade Commission, in the first 9 months of 2022, the US imported nearly 1.57 million tons of rubber (HS 4001, 4002, 4003, 4005). worth 3.66 billion USD, up 8.2% in volume and 23.4% in value over the same period in 2021.
In the first 9 months of 2022, Vietnam was the 14th largest rubber supplier to the US with 25,110 tons, worth US$44.76 million, down 20.5% in volume and 20.5% in value. compared to the same period in 2021. Vietnam's rubber market share in total US rubber imports in the first 9 months of 2022 accounted for 1.6%, down from 2.2% in the first 9 months of 2021.
Vietnam's rubber exports to the US face competition from many markets, especially from Indonesia (accounting for 26.8% of total US rubber imports) and Thailand (accounting for 14.1% of total US rubber imports). rubber imports from the United States), in which Thailand's rubber market share increased over the same period in 2021.
Fuel prices and overall demand for energy in the United States are expected to decline and ease pressure on prices, especially transportation costs. This is an optimistic signal for Vietnam's rubber exports to the US in the near future.
Domestic raw material rubber latex price is stable
The Ministry of Industry and Trade cited the latest report of the Association of Natural Rubber Producing Countries (ANRPC), which said that in October 2022, the total global production of natural rubber reached about 1.435 million tons, while the demand for natural rubber was about 1.435 million tons. globally at 1.301 million tons. This figure shows a 1.2% increase in demand year-on-year in 2021.
Excess supply in October 2022 has contributed to fluctuations in rubber prices in the world market. ANRPC predicts that global demand for natural rubber will grow more slowly this year due to the slow recovery of the global economy, increasing only 2.1% compared to 2021, to 14.805 million tons.
The Ministry of Industry and Trade said that in 10 days in mid-November 2022, the domestic price of raw rubber latex was stable compared to the beginning of the month. In Binh Phuoc, the price of raw rubber latex purchased by Phu Rieng Rubber One Member Limited Company is at VND 262-272/TSC (TSC is the index of dry matter content in natural rubber latex). In Binh Duong, the purchasing price of raw rubber latex of Phuoc Hoa Rubber Company fluctuates at 271-275 VND/TSC. Latex in Gia Lai is purchased by Mang Yang Rubber Company at the price of 230-240 VND/TSC.
https://baochinhphu.vn/xuat-khau-cao-su-trien-vong-tu-cac-thi-truong-lon-102221125101938615.htm
