Despite facing many difficulties, but with the efforts of the whole industry, rubber exports in 2022 will continue to grow and set a new record in value.
Rubber prices fell sharply
According to the Business Market Department of the Vietnam Rubber Group (VRG), the rubber market in 2022 is mainly affected by non-fundamental factors such as inflation, the risk of economic recession, and the dollar. US dollar appreciation and other macro policies… These reasons have outweighed other favorable basic factors for the rubber industry such as the balance of supply and demand for rubber, which is moving towards a period of balance and shortage, and the price of rubber. Oil remained at a high level, and the demand for production recovered was high (which were supportive factors for rubber prices).
China is still the largest market for Vietnamese rubber, but rubber exports to China in the past year have faced certain difficulties due to the implementation of the "Zero Covid" policy, affecting production activities. rubber industry and consumption in China.
The real estate crisis in China, the heat waves that disrupted production... also had the effect of reducing the price of imported rubber into the country, thereby reducing the price of Vietnam's rubber exports.
The average export price of most types of rubber to China in 2022 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%; RSS 3 dropped 9.1%; SVR CV60 decreased by 6.3%... Therefore, if in 2021, Vietnam's export rubber price averages 1,677 USD/ton, in 2022 it is estimated to average 1,547 USD/ton, down 7.7%. 8%.
In particular, the price of rubber dropped sharply in the last months of 2022. Mr. Le Thanh Hung, General Director of VRG said that the selling price of rubber in the fourth quarter of 2022 decreased quite deeply compared to the average selling price of the year due to the lack of positive information about the consumer market. The sharp drop in price made the selling price of VRG's latex in the past year only averaged 37 million dong/ton, down 2.6 million dong/ton compared to the average price in 2021.
Set a new export record
Anticipating great difficulties and challenges to face in 2022, businesses in the rubber industry, especially VRG, have had timely response plans.
According to Mr. Le Thanh Hung, right from the beginning of the year, VRG's Board of Directors and Executive Board have drastically and synchronously implemented tasks and solutions in each field of production and business. Focus on proposing proactive and flexible management and administration measures, suitable to the actual situation on the basis of optimizing existing resources to overcome difficulties and obstacles, and maximize revenue. , control costs and maximize cost savings.
VRG strives to achieve the highest possible targets in 2022 in the new normal when the Covid-19 epidemic is under control, but many more difficult factors appear than forecast; The goal is to both ensure health and safety as well as stabilize income and life for rubber workers, while maintaining stable and efficient production and business activities of the Group and its member units. .
As a result, by the end of 2022, VRG has basically overcome difficulties and basically completed the key targets as agreed by the Committee for the Management of State Capital at Enterprises: rubber latex exploitation output is estimated at 429,000 tons. , exceeding 6.2% of the year plan and increasing by 26,083 tons compared to 2021; purchasing latex is estimated at 80,150 tons, equal to 100% of the plan; consumed about 501,322 tons of rubber of all kinds, reaching 100% of the plan.
Regarding financial indicators, the total consolidated revenue of VRG is estimated at 28,600 billion dong, equaling 101% of the plan; consolidated pre-tax profit was estimated at VND5,200 billion, equaling 106% of the plan. For the parent company - Group, revenue and profit before tax are estimated at 3,629 billion dong and 1,500 billion dong, respectively, equal to 101% and 124% of the plan. In particular, VRG's member units have maintained stable jobs for nearly 80,000 employees with an average salary of 7,625,000 VND/person/month, 14% higher than the approved salary plan. Browser.
Thanks to the efforts of VRG and other enterprises in the rubber industry, rubber exports in 2022 will still grow. Specifically, according to the General Department of Customs, in 2022, Vietnam's rubber exports will reach about 2.14 million tons, worth 3.32 billion USD, up 9.7% in volume and 1.1% in value. price compared to 2021. USD 3.32 billion is also a new record in export turnover that the rubber industry has achieved in 1 year.
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