According to the General Department of Customs, the average export price of rubber stood at US$1,701 per tonne, up US$351 per tonne compared to 2023.
China maintained its position as Vietnam’s largest rubber buyer, accounting for 72.1% of the country’s total rubber export volume. Last year witnessed the northern neighbour import 1.45 million tonnes from Vietnam worth US$2.44 billion, down by 15.1% in volume but up by 7.6% in value year on year.
Second position went to India, which saw annual increases of 8.7% in volume and 35.2% in value.
Rubber exports to other major international markets such as the United States, Germany, Russia, and Indonesia also witnessed growth. In particular, the export volume to Malaysia hit 38,442 tonnes, increasing by 5.3 times over 2023.
Industry insiders anticipate that the demand for rubber purchases will increase in the year ahead. Moreover, rubber prices are also likely to remain high due to a global supply shortage coupled with adverse weather conditions in many countries.
