Foreign media reported that in the first eight months of this year, Vietnam’s rubber export to China accounted for 62.1 of the country’s total exports, according to local government.
Vietnam exported 795,000 tons of natural rubber in Jan.-Aug., valued 1.36 billion U.S. dollars, up 11.2% and 52% year on year, respectively.
The average export value of Vietnam natural rubber in 2017 is 1,765.2 dollars/ton, up 41.2%. China, Malaysia and Republic of Korea are the top three export destinations.
Over the past five years, about 70%-80% of Vietnam natural rubbers were exported to China, but the figure dropped below 50% in 2016.
But Vietnam’s natural rubber export started to surge since the second quarter of this year, and the Chinese market began to take an increasingly higher proportion.
Currently, a number of Vietnamese rubber companies are looking for buyers in Shanghai commodity exchange. If the transactions go smoothly, Vietnam’s natural rubber export volume to China is expected to grow 25% per week.
