From the beginning of October 2022 until now, high prices on Asian exchanges have increased slightly, causing oil prices to increase, but transactions are still operating under the extended holiday in China. It is forecasted that high prices may remain at low levels in the near future. The value of raw rubber in some provinces and cities in the country is stable compared to the end of last month.
World rubber price
Recorded at 7:10 am on October 13, at the Tokyo Commodity Exchange (TOCOM), the price of rubber for October delivery in October 2022 reached 220.2 yen/kg, down 0.77% (equivalent to 1.7. yen/kg) at the time of the survey at 7:20 am (Vietnam time).
On the Shanghai Commodity Futures Exchange (SHFE), the price of RSS3 rubber for delivery in November 2022 was flat at 11,810 yuan/ton. For the January term, rubber price increased by 0.23% (equivalent to 30 yuan) compared to the previous transaction to 12820 yuan / ton.
In Thailand, rubber prices tend to increase again from the beginning of October 2022. Specifically, the price of STR20 rubber for delivery in November 2022 increased by 0.89% to 133.1 Baht/kg. The price of RSS3 rubber for delivery in December 2022 also increased by 0.99%, at 150 Baht/kg.
According to the latest report of the Association of Natural Rubber Producing Countries (ANRPC), in August and September 2022, the total global natural rubber production reached about 2.693 million tons, an increase of 71 thousand tons compared to that of the year. same period in 2021; meanwhile, global demand increased to 2,456 million tons, an increase of 85 thousand tons compared to the same period in 2021. Excess supply during this period contributed to fluctuations in rubber prices in the world market, in addition to factors such as falling crude oil prices and a weakening global economic outlook.
From the beginning of October 2022 until now, rubber prices at Asian exchanges have increased slightly due to the increase in oil prices, but trading is still weak due to the prolonged holiday in China. It is forecasted that rubber prices may remain low in the near future.
According to the latest report of the Association of Natural Rubber Producing Countries (ANRPC), in August and September 2022, the total global natural rubber production reached about 2.693 million tons, an increase of 71 thousand tons compared to that of the year. the same period in 2021. Meanwhile, global demand increased to 2,456 million tons, an increase of 85 thousand tons compared to the same period in 2021.
According to the Ministry of Industry and Trade, in addition to factors such as falling crude oil prices and weakening global economic outlook, the excess supply during this period has contributed to fluctuations in rubber prices in the world market.
Domestic rubber prices
From the beginning of October 2022 until now, the price of raw rubber latex in some provinces and cities has been stable compared to the end of last month, according to the latest report from the Import-Export Department (Ministry of Industry and Trade).
On October 10, in Binh Phuoc, the price of raw rubber latex was purchased by Phu Rieng Rubber Company at 260 - 270 VND/TSC, stable compared to the end of September 2022.
In Binh Duong, the purchasing price of raw rubber latex of Phuoc Hoa Rubber Company was also kept at 273 - 275 VND/TSC, stable compared to the end of last month.
Meanwhile, the price of rubber latex in Gia Lai was purchased by Mang Yang Rubber Company for 235 - 245 VND/TSC, down 5 VND/TSC compared to the end of September 2022.
According to the statistics of the General Department of Vietnam Customs, in September 2022, Vietnam exported 193.41 thousand tons of rubber, worth 279.39 million USD, down 11.8% in volume and 15 %. 9% in value compared to August 2022; compared to September 2021, increased by 6.9% in volume, but decreased by 6.7% in value.
Accumulated in the first 9 months of 2022, rubber exports reached 1.39 million tons, worth 2.29 billion USD, up 8.4% in volume and 6.6 in value over the same period in 2021.
In September 2022, China is still Vietnam's largest rubber consumption market, accounting for 77.3% of the country's total rubber exports, with 149.43 thousand tons, worth 207.98 million USD, down 8.6% in volume and 13.7% in value compared to August 2022; compared to September 2021, an increase of 21.5% in volume and 4.4% in value.
The average price of rubber exported to China was at $1,392/ton, down 5.6% compared to August 2022 and 14.1% lower than September 2021. In the first nine months of 2022, Vietnam exported 989.59 thousand tons of rubber to China, worth $1.56 billion, up 9.7% in volume and 7.5% in value over the same period. period 2021.
In addition, rubber exports to some key markets such as Russia, Turkey, Brazil, Malaysia... continued to grow well in both volume and value compared to September 2021. However, exports to a number of markets such as India, Korea, the United States, Germany... decreased compared to the same period in 2021.
