According to Vietnamese media reports, in January 2019, Vietnam’s rubber exports and exports were 175,000 tons and 220 million US dollars respectively, up by 1.3% and 4.5% respectively, up 28.9% and 10.8% respectively.
According to relevant figures from Vietnam, there are two main reasons for the sharp increase in rubber exports in January:
In terms of supply and demand, the industry predicts that rubber demand will be higher this year than last year, and production is insufficient, so rubber exports will maintain growth momentum. The market is very much looking forward to China’s new rubber-consuming country, China’s new stimulus plan, and is more optimistic about Sino-US trade negotiations. At the same time, rising oil prices also boosted rubber prices.
In terms of price, although the export price fell by 14.1% year-on-year, it is predicted that the global rubber price will increase. On February 13, the Tokyo Commodity Exchange (TOCOM) rubber futures price rose by 0.7 yen in July 2019, equivalent to 0.4%, rising to 181.6 yen (about 1.64 US dollars) / kg.
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According to the National Association of Natural Rubber Producing Countries (ANRPC), global demand for natural rubber will increase by 4.2% in 2019, reaching 14.59 million tons, lower than sales in 2018.
However, the opinion of Guo Guoying, chairman of the Ho Chi Minh City Rubber and Plastics Association, is different. It is predicted that the global demand for natural rubber will be higher than the output this year, but the increase is not large, and rubber stocks are still relatively large. China’s rubber consumption accounts for 40% of the world’s total, but China’s economic growth is slowing down. It is predicted that China’s rubber consumption will not increase this year compared to last year. Therefore, there will be no major changes in the rubber market in 2019.
Translated by Google Translator from http://www.cria.org.cn/newsdetail/47587.html
