VINACHEM

The scarcity of rubber raw materials is forecast to continue in 2022, and world rubber is entering a new price increase cycle due to the decreasing supply, opening an optimistic picture for Vietnamese rubber enterprises to enjoy the dual benefits in terms of both export volume and value.

According to statistics of the Ministry of Agriculture and Rural Development, in 2021, thanks to the continuous increase in rubber prices, although the export volume only increased by 11.7 percent, the turnover soared by 36.2 percent year-on-year.

China maintained Vietnam's largest rubber importer, with 1.2 million tonnes worth 1.96 billion USD in the first 11 months of 2021, equivalent to increases of 1.71 percent in volume and 26.3 percent in value over the same period in 2020. In addition, some rubber export markets saw sharp rises in the past year such as the US, the European Union (EU), Malaysia, the Republic of Korea and India.  - VNN-