Vietnam sees surge in rubber exports

18:11 | 22/05/2015 Trade

Exports of natural rubber have increased significantly according to the Ministry of Agriculture and Rural Development.

Vietnam sees surge in rubber exports

Illustrative image (Source: VNA)

In the first four months of 2015, the export volume for natural rubber hit 259,000 tonnes, up by 37.7 percent compared to the same period last year.

However, export turnover only totalled 371 million USD, a 0.6 percent decline with an average price of 1,420 USD per tonne, which is 29.15 percent lower than last year.

In April, Vietnam exported 58,000 tonnes of natural rubber, generating 84 million USD.

Major markets include China, Malaysia and India, who account for 68.08 percent of Vietnam’s natural rubber market share.

Recently, domestic rubber prices have started to show signs of recovery, but prices are still lower than in early April 2015.

In the southern province of Binh Phuoc, the purchasing price for SVR 3L rubber is around 29,900 VND (1.4 USD) per kilogramme. It sells on the Singaporean trade market and it’s offered on the Singapore Commodity Exchange Sicom for 1,670 USD per tonne.

Source VNA