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Vietnam’s rubber exports will increase further this year

In January 2019, Vietnam exported 175,000 tons of rubber, with exports reaching US$220 million, an increase of 28.9% and 10.8% over the same period in 2018.

Vietnam’s rubber exports will increase further this year

Some experts predict that Vietnam’s rubber exports in 2019 will further increase, as global demand is expected to grow 4.2% to 14.59 million tons, while total production is estimated at 14.84 million tons.

Vietnam’s rubber exports will increase further this year

The rise in crude oil prices has pushed up the price of rubber, which has also benefited the domestic rubber industry in Vietnam.

Vietnam’s rubber exports will increase further this year

However, Nguyen Quoc Anh, chairman of the Vietnam Rubber Plastics (8720, 20.00, 0.23%) Manufacturers Association, said high stock levels would put pressure on rubber suppliers.

Vietnam’s rubber exports will increase further this year

In addition, due to the economic downturn, China’s demand growth rate has slowed to 3.2% from 5.3% in 2018. China’s rubber consumption accounts for 40% of the world.

At the same time, the Ministry of Industry and Trade of Vietnam believes that its rubber exports to India may be as strong as in 2018.

In 2018, Vietnam sold 102,920 tons of rubber in India, with a revenue of 145.39 million US dollars. Sales volume and sales increased by 85.6% and 60.5% respectively.

Translated by Google Translator from http://www.cria.org.cn/newsdetail/47717.html

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