| In July 2023, rubber exports reached the highest level since the beginning of 2023. South Korea reduced rubber purchases from the Vietnamese market. |
The Import-Export Department ( Ministry of Industry and Trade ) cited data from the General Department of Customs, saying that Vietnam's rubber exports in August 2023 reached about 200,000 tons, worth 260 million USD, down 8.9% in volume and 9.5% in value compared to July 2023.
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| Exports to China account for 99.69% in volume and 99.54% in value of Vietnam's total mixed exports of natural rubber and synthetic rubber. |
Compared to August 2022, it decreased by 8.8% in volume and 21.9% in value. The average rubber export price was at 1,298 USD/ton, down 0.6% compared to July 2023 and down 14.4% compared to August 2022.
In the first 8 months of 2023, rubber exports reached about 1.18 million tons, worth 1.59 billion USD, down 1.4% in volume and 20.7% in value compared to the same period in 2022.
In the first 7 months of 2023, Vietnam's rubber export types were mainly a mixture of natural rubber and synthetic rubber (HS 400280), Latex, SVR 10, SVR 3L, SVR CV60, RSS3, SVR 20...
Of which, the mixture of natural rubber and synthetic rubber (HS 400280) is still the most exported item, accounting for 66.6% in volume and 66.95% in value of the country's total rubber exports, with 656.99 thousand tons, worth 895.06 million USD, up 19.3% in volume, but down 4.7% in value compared to the same period in 2022.
Of which, exports to the Chinese market accounted for 99.69% in volume and 99.54% in value of the total mixed exports of natural rubber and synthetic rubber, with 654.96 thousand tons, worth 890.98 million USD, up 19.3% in volume, but down 4.8% in value compared to the same period in 2022.
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| Types of rubber exported by Vietnam in the first 7 months of 2023 (Source: Calculation from data of the General Department of Vietnam Customs) |
In the domestic market, in August 2023, latex prices in raw material areas remained at 240 - 280 VND/TSC. Specifically, latex prices in Dak Lak province were stable at 240 - 245 VND/TSC; in Binh Phuoc province, latex prices remained at 245 - 280 VND/TSC; in Dak Nong and Phu Yen provinces, latex prices were at 260 - 265 VND/TSC; in Quang Tri, Binh Duong and Ho Chi Minh City, latex prices were stable at 250 - 255 VND/TSC.
At rubber companies, the price of latex is being purchased at around 250 - 272 VND/TSC. Of which, Phuoc Hoa Rubber Company purchases at 270 - 272 VND/TSC, an increase of 2 VND/TSC compared to 10 days ago; The price of latex at Phu Rieng Rubber Company is stable at 250 - 270 VND/TSC; Dong Phu Rubber Company maintains the price at 270 VND/TSC; Binh Long Rubber Company maintains the price at 259 - 269 VND/TSC. Meanwhile, Ba Ria Rubber Company adjusts the purchase price of latex to 251 - 256 VND/TSC, an increase of 11 VND/TSC compared to the end of last month.
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