After many consecutive months of declining in both quantity and value, rubber export in May 2020 has recorded signs of recovery when production and business activities of enterprises gradually returned to orbit after a period of "avoidance" COVID-19 disease.
Data from the Import-Export Department (Ministry of Industry and Trade) showed that Vietnam's rubber export in May reached 70,000 tons, worth $ 84 million, up 65.8% in volume and 56.6% in value compared to April.
Nguyen Quoc Anh, chairman of the Ho Chi Minh City Rubber and Plastics Association, said the recovery in May was due in part to the fact that some markets in Asia have re-exported normally after a pause due to the COVID-19 epidemic. Tire products exported to South Korea and Japan have stabilized. Consumer demand for plastic and rubber products is gradually returning, pre-orders are being traded normally when businesses start working again. But in the US, it has not been reopened much, Europe has only a little because the disease is still complicated, "Mr. Quoc Anh shared.
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However, the figures of the Import and Export Department show that there have been some optimistic signals for Vietnam's exported rubber products. Specifically, in the first 4 months of 2020, the average export price of most rubber types increased over the same period in 2019, except for SVR 20. In particular, the highest increase was recycled rubber, increased 50.8% compared to 4 months of 2019, reaching 779 USD/ton. Next is a synthetic rubber, up 20.8% over the same period last year, reaching USD 2,081/ton.
In addition, rubber exports to the European market, particularly the US, have shown positive signs when Vietnam's rubber imports into the US increased impressively, while major markets such as Indonesia, Canada is all down. Indonesia, Thailand, and Canada are the three largest markets supplying rubber to the US. However, in the first 2 months, rubber supply from Indonesia, Thailand, Canada, Ivory Coast, Japan, South Korea, France respectively decreased by 7.2%; 2.7%; 5.5%; 27.8%; 24.7%; 19.1%; 28% ... Meanwhile, the US increased rubber import from markets such as Vietnam increased by 4.6%; Taiwan increased by 27%; Spain increased by 141.8% and the Czech Republic increased by 168.7% ...
According to the Malaysian Rubber Board (MRB), April automobile sales in China increased by 4.4% compared to the same period in 2019, after consecutive negative growth due to COVID-19. Increasing demand of this market will be a positive factor supporting rubber prices in June.
Source: https://vietnambiz.vn
