According to the Ministry of Agriculture and Rural Development, China maintained its position as Vietnam’s largest rubber buyer, importing 227,000 tonnes worth 317 million USD, up over 10% in volume and over 14% in value compared to the same period last year.
Furthermore, rubber exports to other major international markets such as the Republic of Korea, the US, Germany, Russia, Italy, Brazil, Spain, and Turkey have also witnessed growth.
Vietnamese rubber fetched over 1,480 USD per tonne in international markets, an increase of 5% compared to January.
Industry experts said there are several contributing factors to the rise in rubber prices, with the largest factor being the booming car sales in China.
As a result, demand for tyres for new cars in China has increased by 30%, boosting demand for natural rubber, and this trend will likely continue in the coming months./.
