Vietnam’s rubber exports fell sharply during the first half of 2013, plunging 19.2 percent in value and 5 percent in volume against the same period last year, according to the Ministry of Industry and Trade.
Up to the end of June, the country earned 976 million USD from exporting over 380.000 tonnes of rubber, as a price slump took its toll on earnings.
In June alone, 79,000 tonnes of rubber were shipped abroad, bringing back 188 million USD. The average rubber export price was 2.595 USD per tonne, down 15.2 percent from the rate at the same time last year.
The significant fall in export prices was attributed to low demand from international markets, while global output had also risen alongside volumes of stockpiled rubber in China and other major countries.
During the January-June period, China remained Vietnam’s largest rubber importer, accounting for 46 percent of total volume. However, imports to the country from Vietnam dropped 30.7 percent in value and 21.6 percent in quantity.
Rubber export prices are forecast to fall in the coming months as rubber output from Thailand - the world’s leading supplier - is expected to pick up.
Vietnam ’s rubber output spiked to 1.01 million tonnes last year, representing a volume increase of 23.8 percent from 2011, according to the Vietnam Rubber Association (VRA).
But despite this production boom, the annual earnings of 2.85 billion USD were down 12.6 percent on the previous year due to a drop in value.
Last year, the Vietnamese natural rubber price fell 33 percent, due to reduced demand from China and the increasing preference for synthetic rubber over natural rubber.
Regardless of the price slump recent efforts mean Vietnam has become the 3 rd largest exporter of natural rubber in the world, after Thailand and Indonesia.-VNA
Up to the end of June, the country earned 976 million USD from exporting over 380.000 tonnes of rubber, as a price slump took its toll on earnings.
In June alone, 79,000 tonnes of rubber were shipped abroad, bringing back 188 million USD. The average rubber export price was 2.595 USD per tonne, down 15.2 percent from the rate at the same time last year.
The significant fall in export prices was attributed to low demand from international markets, while global output had also risen alongside volumes of stockpiled rubber in China and other major countries.
During the January-June period, China remained Vietnam’s largest rubber importer, accounting for 46 percent of total volume. However, imports to the country from Vietnam dropped 30.7 percent in value and 21.6 percent in quantity.
Rubber export prices are forecast to fall in the coming months as rubber output from Thailand - the world’s leading supplier - is expected to pick up.
Vietnam ’s rubber output spiked to 1.01 million tonnes last year, representing a volume increase of 23.8 percent from 2011, according to the Vietnam Rubber Association (VRA).
But despite this production boom, the annual earnings of 2.85 billion USD were down 12.6 percent on the previous year due to a drop in value.
Last year, the Vietnamese natural rubber price fell 33 percent, due to reduced demand from China and the increasing preference for synthetic rubber over natural rubber.
Regardless of the price slump recent efforts mean Vietnam has become the 3 rd largest exporter of natural rubber in the world, after Thailand and Indonesia.-VNA
