Illustrative image (Source: VNA) Hanoi (VNA) – Rubber exports in the first sevenmonths of this year rose in both volume and value, according to the Import-Export Department under the Ministry of Industry and Trade.
The department reported that in July, Vietnam shipped abroad150,000 tonnes of rubber for 211 million USD, up 22.2 percent in volume and 20.9percent in value compared to the previous month.
Compared to July 2018, the increases were 5.7 percent and12.5 percent, respectively. The price rose 6.4 percent compared to the sameperiod last year to 1,407 USD per tonne.
In the January-July period, rubber export volume reached764,000 tonnes with a value of 1.05 billion USD, representing increases of 8.2percent and 4.5 percent, respectively.
Statistics from the General Department of Vietnam Customsshow that rubber prices were down in July due to impact from the US-China tradetension and worry of slow recovery of the global economy that may affect demandof the world.
Good growth was seen in the Republic of Korea (RoK) market.In the first six months of 2019, the country imported more rubber from Vietnamdespite its falling demand. In the period, the RoK consumed nearly 280,000tonnes worth 32.95 million USD of Vietnamese rubber, up 13.3 percent in volumeand 2.6 percent in value over the same time of 2018.
The market share of Vietnamese rubber in the RoK market roseto 8 percent in the first six months of this year from 6.9 percent in the sameperiod of 2018.-VNA
VNA
