Positive Growth in Rubber Exports to U.S. Market

According to the latest data from Vietnam Customs published by the Import-Export Department (Ministry of Industry and Trade), rubber exports to the U.S. market are showing impressive growth in both shipping volume and export value in 2024.

Export turnover in October 2024 reached $7.78 million with an international shipping volume of 4,250 tons, showing significant increases compared to the previous month (21.9% in volume, 28.6% in value) and year-over-year (44.1% in volume, 97.7% in value). The cumulative 10-month total rubber export turnover reached $41.51 million from 24,420 tons, increasing by 79.3% and 19% respectively compared to the same period.

Rubber exports to the U.S. market show positive growth

Average export prices also recorded positive trends thanks to optimized cross-border logistics costs. October prices reached $1,831/ton, up 5.4% month-over-month and 37.2% year-over-year. The 10-month average reached $1,700/ton, up 25.4% compared to 2023. All rubber grades showed impressive price increases, particularly SVR 20 rising by 56.3% due to improved supply chain and maritime transport.

In terms of export composition, natural rubber dominates container shipments to the U.S. Latex leads with 31.66% market share (7,730 tons), followed by SVR CV60 with 26.84% (6,550 tons) and SVR 3L with 26.05% (6,360 tons). All these grades recorded strong growth in both shipping volume and export value.

Logistics companies are actively supporting rubber exports through optimization of international shipping processes, from warehousing and container loading to sea freight. This helps maintain product quality and meet the U.S. market’s strict delivery time requirements.

However, Vietnamese rubber’s market share in the U.S. remains modest compared to total imports. Logistics and import-export experts forecast continued positive export activity through the end of 2024, but warn about competitive challenges in shipping rates and service quality from other major suppliers.

To expand export market share, Vietnamese businesses need to focus on two key factors. First is sustainable development, increasing certified sustainable forest management areas. Second is optimizing end-to-end logistics supply chains, from harvesting to container shipping and export.

Additionally, exporters must pay special attention to complying with the U.S. market’s strict technical standards for rubber packaging, preservation, and transportation. This requires close coordination between manufacturing enterprises and logistics companies in ensuring international shipping service quality.

With current growth trends and efforts to improve logistics service quality, rubber exports to the U.S. are expected to continue growing in the coming period, making an important contribution to Vietnam’s total rubber export turnover.