In the first eight months of 2022, Vietnam exported 88.72 thousand tons of rubber to India, worth $157.11 million, up 45.5% in volume and 44.3% in value.
According to statistics of the General Department of Customs, in the first eight months of 2022, Vietnam exported 88.72 thousand tons of rubber to India, worth $157.11 million, up 45.5% in volume and an increase of 44.3% in value over the same period in 2021; the average export price reached 1,771 USD/ton, up 7% over the same period in 2021.
In the first eight months of 2022, SVR10 rubber was exported to India the most, accounting for 34.7% of total rubber exports to India. The second category is SVR3L, accounting for 28.9% and the third is RSS3 accounting for 11.7% of the total rubber exports to India in the first 8 months of 2022.
In the first 8 months of 2022, the average export price of some types of rubber to India increased compared to the same period in 2021 such as: SVR20 increased by 4%; SVR10 increased by 3.8%; Latex increased by 4.4%... However, the average export price of some types of rubber to India still decreased such as SVR3L down 2.9%; SVR CV60 decreased by 0.6%; SVR CV50 down 1.9%...
According to statistics of the Ministry of Commerce of India, in the first 7 months of 2022, India imported 701.55 thousand tons of rubber (HS 4001; 4002; 4003; 4005), worth $1.57 billion, an increase. 2.3% in volume and 17.2% in value over the same period in 2021. Korea, Vietnam, Indonesia, Malaysia and Ivory Coast are The 5 largest markets supplying rubber to India. In particular, India's rubber imports from the markets of Vietnam, Malaysia and Ivory Coast have increased sharply in both volume and value compared to the same period in 2021.
In the first 7 months of 2022, Vietnam is the second largest rubber supplier to India with 74.07 thousand tons, worth $146.95 million, up 52.9% in volume and 58.5% in value compared to the same period in 2021. Rubber imported from Vietnam accounted for 10.6% of India's total rubber imports in the first 7 months of 2022, higher than 7.1% of the same period. period 2021.
Regarding the structure of import categories, in the first 7 months of 2022, India imported 306.48 thousand tons of natural rubber (HS 4001), worth US$592.72 million, up 13.4% in volume and up 21.1% in value over the same period in 2021.
In which, Vietnam is the largest market supplying natural rubber to India in the first 7 months of 2022 with 73.14 thousand tons, worth USD 144.85 million, up 54% in volume and 59.6 % in value over the same period in 2021. The market share of Vietnam's natural rubber in India's total imports accounted for 23.9%, up sharply from 17.6% in the same period in 2021.
The main market structure supplying natural rubber to India in the first 7 months of 2022 has changed when the rubber market share of Indonesia and Thailand in total imports of India decreased. strong, while the market share of Vietnam, Ivory Coast and Malaysia increased.
Meanwhile, India reduced imports of synthetic rubber (HS 4002). In the first 7 months of 2022, India imported 316.68 thousand tons of synthetic rubber, worth US$828.73 million, down 8.9% in volume, but up 14.1% in value over the same period last year. in 2021, in which Korea, Russia, Singapore, Japan and Poland are the 5 largest markets supplying synthetic rubber to India; Except for Poland and Singapore, imports from these markets all decreased compared to the same period in 2021.
The structure of the main synthetic rubber supply market for India in the first 7 months of 2022 has changed when the market share of synthetic rubber of Korea, Poland and Singapore in total imports of India increased, while the market share of the United States, Japan and Russia decreased. Vietnam's synthetic rubber market share accounts for only 0.3% of India's total imports.
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