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Wednesday, October 27, 2021

Vietnam Reports Fall In Rubber Exports In First Five Months

HO CHI MINH CITY, June 20 (Bernama) – Vietnam saw a fall in both rubber output and export in the first five months of the year, Vietnam News Agency (VNA) reported.

Vietnam exported 239,000 tonnes of rubber worth US$473 million from January to May, down 20.2 percent in volume and 39.2 percent in value compared to the previous year.

Average price of rubber declined 25 percent year-on-year, falling to US$1,990 per tonne.

By June 13, the Vietnam Rubber Group (VRG) exported 42,043 tonnes of rubber and sold 39,767 tonnes in the domestic market, earning over US$3.7 trillion in revenue.

Experts said that despite dips usually seen in the first six months every year, the latest results were disappointing.

VRG attributed the fall to a gloomy global economic condition and abundant supplies and low demand in international market that led to a high inventory and low price.

A recent report by the International Rubber Study Group showed about 174,000 tonnes of natural rubber in the world will be unsold this year.

— BERNAMA

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