Vietnam NR export volume increased notably in November 2017
According to the data newly released by Vietnam Customs, Vietnam’s NR export volume in November 2017 increased greatly. The NR export volume in Vietnam had been above 110kt for 6 consecutive months of 2017, and the export volume hit a new high of the past 10 years in August 2017.
According to the data newly released by Vietnam Customs, Vietnam’s NR export volume in November 2017 was 145.3kt, up 24.66% M-O-M and up 13.74% Y-O-Y. The accumulative NR export volume in the first 11 months of 2017 was 1,211kt, up 7.17% from the same period of 2016. In October 2017, the NR output was impacted by the rainy weather. After that, the NR output was stable in November and December 2017, but the overall increasing volume was not high.
According to ANPRC’s statistics, Vietnam’s NR output in the first 11 months of 2017 totaled 970kt, up 2.17% Y-O-Y. As Vietnam’s NR output could not meet the export demand, Vietnam greatly increased its NR import volume in 2017. According to SCI’s statistics, Vietnam’s rubber (including synthetic rubber) import volume in the first 11 months of 2017 was 498.5kt, and the volume in 2016 was only 435.1kt. The processing technology of synthetic rubber was underdeveloped in Vietnam, so the synthetic rubber basically relied on import. The annual demand volume of synthetic rubber was basically stable in Vietnam. In order to meet the NR export demand, Vietnam greatly increased the NR import volume from Cambodia, Thailand and Indonesia.
In November 2017, Vietnam’s NR export volume to China was 105.2kt, taking up 72.4% of the total NR export volume in November. China had a larger proportion in Vietnam’s NR export structure. From January to November 2017, Vietnam exported 788.3kt of NR to China.
In the past years, Vietnam’s NR export volume to China occupied above 50% of its total export volume. With China’s NR import volume increase in 2017, Vietnam’s NR export volume to China would take up a higher proportion. China’s NR import demand also supported Vietnam’s NR export.
In December 2017, the weather in Southeast Asia was good. With the higher profits, rubber farmers were active in rubber tapping. The rubber feedstock processing plants in Vietnam could also purchase rubber feedstock from the neighbor countries. SCI predicts that Vietnam’s NR export volume in December 2017 is likely to be 130kt-160kt.