Rubber market in 10/2018
Despite several recent difficulties in the market and the effect of China – United States trade war, rubber market has now shown many positive changes. A review of rubber market last month revealed that rubber exports reached 184 thousand tonnes with value of 238 million US dollars, increasing by 18.3% of value compared to 09/2018.
An overview of the rubber market during the first 10 month in 2018
Imported rubber market during the first 10 month in 2018 recently has increased its quantity as well as its value. Specifically, imported rubber reached 494.6 thousand tonnes with value of 905.7 million USD, rising by 11.4% in quantity and 0.8% in value.
Regarding rubber exports, China, India and Malaysia which have been 3 biggest consumer markets of Vietnam during the first 10-month period in 2018 had 66%, 7% and 5% of market share in total rubber export value respectively. Among them, India and Indonesia increased by 53% and 5% in turn regarding Vietnam rubber export turnover. However, the export turnover of rubber in Vietnam to other important markets in general partly decreased in comparison with the previous year.
Moreover, a report from The Association of Natural Rubber Producing Countries (ANRPC) showed that natural rubber consumption in global during the first 10 months of this year rose by 6.6%, reaching over 11 million tonnes.
A positive signal of rubber exports in Vietnam
According to Ministry of Agriculture & Rural Development, rubber exports in 10/2018 reached reached 184 thousand tonnes with value of 238 million US dollars, estimatedly gaining 1.21 million tonnes and 1.66 billion US dollars, increasing by 13.4% in quantity and by 18.3% of value compared to 09/2018.
With regard to average export price until this October, even though there was a fall of 15.7% compared to 2017 due to influences of market and trade war, Vietnam was estimated to reach 1.293 USD/ton, a slight rise of 0.66% in comparison with 09/2018. This is considered to be a positive signal for the rubber export market in Vietnam.
Over the years, domestic rubber industry has witnessed a variety of outstanding developments, especially exports of rubber wood and rubber wood – related products earned 1.7 – 1.8 billion US dollars. At the same time, many rubber processing enterprises and rubber exporters have been encouraged to decrease the quantity of primarily-processed rubber and raw rubber products, while they will continously increase processed rubber export. To summary, Vietnam rubber market is presenting noticeable potentials, and that rubber producing enterprises and exporters diversify products and expand markets for export can result in the effectiveness for the Vietnam rubber developments in general.
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Source: vietnambiz.vn
