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Rubber industry faces falling export price

The Vietnamese rubber industry enjoyed robust growth in exports but experienced a fall in export prices in the first two months of 2019.
Rubber industry faces falling export price ảnh 1Vietnamese rubber industry experienced a fall in export prices in the first two months of 2019.
(Photo: vneconomy.vn)

Hanoi (VNA) – The Vietnamese rubber industry enjoyed robust growth inexports but experienced a fall in export prices in the first two months of 2019.

The General Department of Vietnam Customs said that the country gained over 305million USD from shipping more than 237,000 tonnes of rubber abroad inJanuary-February, up 11.5 percent in value and 27.3 percent in volume from thesame time last year.

The average rubber price in February stood at 1,322 USD per tonne, jumping 4percent from the previous month but falling 11.5 percent as compared to thesame month in 2018.

China remained the largest importer in the period as it splashed out more than196 million USD on buying 153,190 tonnes of Vietnamese rubber, a year-on-yearsurge of 35 percent in value and 53.7 percent in quantity. However, the rubberprice dropped 12.1 percent year-on-year to 1,279 USD each tonne.

The rubber price also slid in India, the second biggest consumer of Vietnameserubber. Each tonne of rubber was sold at 1,339 USD in the market, ayear-on-year fall of 12.14 percent. In the two-month period, Vietnam exported21,100 tonnes of rubber to the southern Asian country and pocketed 28.4 millionUSD, shooting 42.87 percent in volume and 23.99 percent in value.

Shipments to the Republic of Korea inched up 7.7 percent in the period whilethose to the US and Germany dwindled 6.6 percent and 13.1 percent,respectively.-VNA

VNA
#Vietnamese rubber industry #robust growth in exports #fall in export prices #General Department of Vietnam Customs #largest importer #China #India #Republic of Korea #237 #000 tonnes of rubber #Vietnam News Agency #Vietnamplus
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