The Import-Export Agency under the Ministry of Industry and Trade, citing Customs Department data, said rubber exports in March reached 109,054 tonnes worth USD 210.7 million, up 3.6 per cent in volume and 0.2 per cent in value year on year.
In the first quarter, Vietnam exported 390,230 tonnes of rubber worth USD 714.25 million, up 2.5 per cent in volume but down 2.7 per cent in value due to lower prices.
The agency said the export market structure had shown positive changes since the start of the year, driven by stronger access to potential markets and a gradual reduction in dependence on China.
Rubber growing area in Chau Duc Commune, Ho Chi Minh City (Photo: Xuan Doan).
Exports to China reached 257,852 tonnes worth nearly USD 472 million in the first quarter, down 6.6 per cent in volume and 10.3 per cent in value from a year earlier. China remained the largest market, but its share of total export volume fell from 72.5 per cent to 66.1 per cent.
By contrast, exports to Indonesia surged 146.2 per cent in volume and 116.4 per cent in value to 26,372 tonnes worth USD 47.3 million, making it Vietnam’s second largest rubber export market. Its market share rose from 2.8 per cent to 6.8 per cent.
Rubber exports also rose sharply to other markets, including India with 21,465 tonnes, up 45.7 per cent, Malaysia with 13,156 tonnes, up 15.7 per cent, South Korea with 12,843 tonnes, up 23.4 per cent, and the United States with 7,115 tonnes, up 11.9 per cent.
Vietnam’s average rubber export price in the first quarter stood at USD 1,830 per tonne, down 5 per cent year on year. In March, the average price reached USD 1,923 per tonne, down 3.3 per cent from the same month last year.
However, compared with February, the March price rose 4.1 per cent, marking the third consecutive monthly increase and signalling a positive market recovery.
The agency said diversification and stronger competitiveness would remain key factors in sustaining growth momentum for Vietnam’s rubber exports in the coming months.
