Vietnam exported 1.12 million tons of rubber value US$1.76 billion within the first eight months of 2024, customs information present.
This marked a 7.2% year-on-year decline in quantity however a 8.4% development in worth from the identical interval final yr, in line with the Common Division of Customs.
Vietnam shipped out 209,726 tons of rubber value almost $345 million in August alone, up 12.7% in quantity and 12% in worth from the earlier month.
The typical export value was $1,637 per ton, a 1.1% month-on-month lower however up 26.8% from a yr in the past.
Rubber exports are forecast to achieve $3-3.5 billion this yr, a $200-400 million enhance from 2023.
The nation at the moment has a latex output of 1.3 million tons per yr from 910,000 hectares of rubber plantations, in line with the Vietnam Rubber Affiliation.
Yearly, greater than 300,000 tons of rubber are utilized in processing and manufacturing, leaving a considerable amount of uncooked materials for export. This has opened up appreciable export potential for the native business, particularly within the context of potential international provide shortages within the 2024 – 2025 interval.
