September 2023, rubber exports to China increased for the 8th consecutive month

The Import-Export Department ( Ministry of Industry and Trade ) cited statistics from the General Department of Customs, saying that in September 2023, China was still Vietnam's largest rubber export market, accounting for 80.88% in volume and 80.41% in value of the country's total rubber exports, reaching 156.34 thousand tons, worth 202.44 million USD, down 14% in volume and down 12.8% in value compared to August 2023; compared to September 2022, it increased by 4.6% in volume but decreased by 2.7% in value.

September 2023, rubber exports to China increased for the 8th consecutive month

This is the 8th consecutive month that rubber exports to the Chinese market have increased compared to the same period in 2022.

The average export price of rubber to China was at 1,295 USD/ton, up 1.4% compared to August 2023, but down 7% compared to September 2022.

In the first 9 months of 2023, Vietnam exported 1.09 million tons of rubber to China, worth 1.44 billion USD, up 10.7% in volume, but down 8.1% in value compared to the same period in 2022.

In the domestic market, from the beginning of October 2023 until now, rubber latex prices in raw material areas have remained stable.

In Gia Lai and Lam Dong provinces, the price of latex is stable at 240 VND/TSC; in Binh Phuoc, Dak Lak, Kon Tum and Dong Nai provinces, the price of latex fluctuates from 250-265 VND/TSC; the price of latex in Dak Nong fluctuates at 275 VND/TSC; the price of latex in Ho Chi Minh City is 270 VND/TSC.

At rubber companies, the price of latex is stable compared to the end of September 2023, currently maintained at around 265 - 295 VND/TSC. Of which, Phuoc Hoa Rubber Company purchases at 293 - 295 VND/TSC; Phu Rieng Rubber Company purchases at 265 - 285 VND/TSC. Binh Long Rubber Company keeps the purchase price at 265 - 275 VND/TSC. Ba Ria Rubber Company keeps the purchase price at 265 - 275 VND/TSC.

In the world market, from the beginning of October 2023 until now, rubber prices on key Asian exchanges have tended to increase due to rising oil prices, while the market is concerned about the conflict in the Middle East causing potential risks of disruption of shipping and higher shipping costs, tire companies are likely to increase rubber reserves, thus pushing up demand for natural rubber. The Golden Week holiday in China has ended, the market will resume trading from October 9, 2023.

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