In the second quarter alone, rubber exports recorded an increase of 23.6% in volume and 22.3% in value compared to the second quarter of 2021, this is also the second consecutive quarter that the industry maintained its upward momentum. with the same period last year.
Rubber prices at major exchanges in the world fluctuated strongly
In the second quarter of 2022, the rubber market was strongly affected by the epidemic situation, the geopolitical crisis, the shortage of containers, high transportation costs, sharp increase in fuel prices and slow customs clearance affecting the supply chain. global supply.
Rubber prices at major exchanges in the world fluctuated strongly in the second quarter of 2022, prices tend to increase strongly in the first 15 days of April 2022, then decrease until the end of May and recover in the next 15 days. June 2022.
In July 2022, the price tends to decrease, specifically: At the Osaka Commodity Exchange (OSE) Japan, the price of rubber peaked on April 15, 2022 at 272.6 yen/kg, after It fell to JPY 238/kg on May 13, 2022, recovered to JPY 262/kg on June 28, 2022, then fell again. On July 28, 2022, the price of RSS3 rubber for delivery near term was at 251.5 yen/kg (equivalent to 1.86 USD/kg), down 3.5% compared to the end of June 2022, but up 19 .8% over the same period in 2021.
At the Shanghai Commodity Futures Exchange (SHFE), rubber prices continuously fell sharply compared to the first quarter of 2022. After falling to 12,345 yuan/ton on May 9, 2022, the price tended to increase again in May, then turned down from the beginning of June 2022 to July 22, 2022. Rubber prices tend to increase slightly in the last few sessions of July 2022, but still at a lower level compared to the end of June 2022. On July 28, 2022, the price of RSS3 rubber for delivery near term was at 12,100 yuan/ton (equivalent to 1.79 USD/kg), down 4.8% compared to the end of June 2022 and down 7.6%. compared to the same period in 2021.
In Thailand, rubber prices fluctuated strongly in the second quarter of 2022. After falling to 67.7 Baht/kg on April 28, 2022, the price rose to Baht 73.1/kg on June 6, 2022, but then fell again due to high supply during the high season. latex extraction point in Thailand. On July 28, 2022, RSS3 rubber price offered for sale at 61.2 Baht/kg (equivalent to USD 1.67/kg), a decrease of 7.4% compared to the end of June 2022, but still higher than 10 .1% over the same period in 2021.
According to the Association of Natural Rubber Producing Countries (ANRPC), the natural rubber market outlook is expected to improve further in 2022. In June 2022, global natural rubber production reached 1.113 million tons, up 3.8% over the same period in 2021; while consumption reached 1,206 million tons, up 5.8% compared to June 2021. Therefore, the supply shortage is about 93 thousand tons. ANRPC forecasts that global rubber supply will continue to fall short of demand in the coming years.
Domestically, in the second quarter of 2022, the price of raw rubber latex in some provinces fluctuated strongly, the price tended to increase sharply in April 2022, then decrease again in May and June 2022. The downtrend continues in July 2022.
Currently, in Binh Phuoc, the price of rubber latex purchased by Phu Rieng Rubber One Member Company Limited is 307 VND/degree TSC, down 16 VND/degree TSC; The price of mixed latex purchased was at 290 VND/degree DRC, down 10 VND/degree DRC compared to the end of June 2022. In Binh Duong, the purchasing price of raw rubber latex of Phuoc Hoa Rubber Company fluctuates at 311-313 VND/degree TSC. Gia Lai rubber latex price was purchased by Mang Yang Rubber Company at the price of 285-295 VND/degree TSC, down 10 VND/degree TSC compared to the end of June 2022.
According to the Vietnam Rubber Industry Group, in the first 6 months of 2022, the rubber latex exploitation output of the whole Group is estimated at 128.6 thousand tons, reaching 32.7% of the plan and exceeding 4% of the plan. the first month of the year; purchased about 26 thousand tons of latex, reaching 32.4% of the year plan; processed about 142.8 thousand tons of rubber of all kinds, reaching 30.3% of the plan; consumed about 172 thousand tons, reaching 36.1% of the plan, up 6.5% over the same period in 2021.
Currently, the rubber area the Group is managing is nearly 402,650 hectares (more than 288,101 hectares in the country; more than 87,891 hectares in Cambodia and more than 26,657 hectares in Laos). In which, the area of rubber business is nearly 259,000 ha, the basic construction is 120,000 ha, the area for re-cultivation in 2021 is nearly 6,500 ha.
Rubber exports continue to recover thanks to increased global demand
According to statistics of the General Department of Vietnam Customs, in the second quarter of 2022, Vietnam's rubber exports reached 380.33 thousand tons, worth US$646.38 million, up 23.6% in volume and up. 22.3% in value over the same period in 2021. Vietnam's rubber exports in the second quarter of 2022 continued to recover thanks to increased global rubber consumption demand.
Regarding export markets: In the second quarter of 2022, Vietnam's rubber is mainly exported to Asia, accounting for 87.5% of the country's total rubber export value. In the second quarter of 2022, rubber exports to Asia reached 335.25 thousand tons, worth 565.4 million USD, up 31.6% in volume and 31.4% in value over the same period last year. 2021.
In general, in the second quarter of 2022, Vietnam's rubber exports to most markets grew well compared to the same period in 2021. In which, China is still the largest market for Vietnam's rubber consumption. South, with 256.09 thousand tons, worth USD 416.08 million, up 27.4% in volume and 26.1% in value over the same period in 2021, accounting for 64.4% of the total export value. rubber exports of the country. India ranked second with 28.06 thousand tons, worth 50.89 million USD, up 93% in volume and 91.1% in value over the same period in 2021, accounting for 7.9% of the total value. rubber export prices of the country in the second quarter of 2022.
In terms of export categories: In the second quarter of 2022, most of the exported rubber categories grew well compared to the same period in 2021. In which, a mixture of natural rubber and synthetic rubber (HS) 400280) is the most exported item, accounting for 64.4% of the total export value of rubber of the whole country, with 197.04 thousand tons, worth USD 333.38 million, up 13.6% in volume and increased 15.1% in value over the same period in 2021. In which, exports to China accounted for 99.9% of the total value of the country's total export of natural and synthetic rubber, with 196 ,87 thousand tons, worth US$322.96 million, up 14.2% in volume and 15.8% in value over the same period in 2021.
Regarding export prices: In the second quarter of 2022, the average export prices of some types of rubber tend to increase compared to the same period in 2021, notably: SVR 20 increased by 4.3%; Mixed rubber (HS 4005) increased by 14.8%; Mixture of natural rubber and synthetic rubber (HS 400280) increased by 1.3%; SVR 10 increased by 1.4%... However, the average export price of some types tended to decrease such as: SVR 3L decreased by 5.8%; SVR CV60 decreased by 7.8%; RSS3 down 5.5%; SVR CV50 decreased by 6.5%; RSS1 down 11.9%...
In the first 5 months of 2022, most of the major rubber import markets increased their rubber imports over the same period in 2021, except China and India, but these markets' rubber imports from Vietnam tends to decrease compared to the same period in 2021.
China: In the first 5 months of 2022, China is the world's largest rubber import market, with a turnover of 5.59 billion USD, up 8.7% over the same period in 2021. In which, China National rubber imports from Vietnam reached US$797.13 million, up 3.5% over the same period in 2021, Vietnam's rubber market share accounted for 14.3% of the total value of China's rubber imports in 2018. In the first 5 months of 2022, lower than 15% of the same period in 2021. Each month, China consumes about 500 thousand tons of natural rubber, while the domestic supply can only meet about 115 thousand tons, while China consumes about 500,000 tons of natural rubber each month. about 385 thousand tons of natural rubber need to be imported. Therefore, China's rubber import demand is quite large.
United States: In the first 5 months of 2022, the US's rubber import turnover reached 2.18 billion USD, up 29.8% over the same period in 2021. In which, the US imported rubber from Vietnam. reached 36.57 million USD, down 0.2% compared to the same period in 2021. Vietnam's rubber market share accounted for 1.7% of the total value of US rubber imports in the first 5 months of 2022, lower than compared with 2.2% of the same period in 2021. The US economy is forecasted to continue to recover, which will be an optimistic signal for Vietnam's rubber exports. Suppliers are expected to benefit from increased production of U.S. rubber products, such as tires, hoses, and belts, amid increasing production of transportation machinery and equipment. increasing.
In order for Vietnam's rubber industry to continue to develop, in the first 6 months of this year, rubber raw materials, especially sustainable rubber materials, have always been focused by rubber processing and exporting enterprises.
With the warning that the source of rubber is in short supply, the source of raw materials is the focus of production and export in the last 6 months of the Vietnamese rubber industry.
To be able to fulfill the export target of 3.5 billion USD as set out for this year, enterprises in the rubber industry need to work closely with small rubber farmers to ensure production. , meet the goal. The rubber industry will also have to withstand and overcome the "dumbbells" that follow such as the epidemic situation, the geopolitical crisis, the shortage of containers, the high transportation costs, the sharp increase in fuel prices, and the customs clearance. slow...
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