Vietnamese Rubber: Accelerating Exports, Outstanding Value

The Vietnamese rubber industry is witnessing a promising development phase, with impressive figures from export activities in August 2024. According to the latest data from the General Department of Customs, rubber exports reached 209,726 tons, bringing in nearly 345 million USD, marking a significant growth of 12.7% in volume and 12% in value compared to the previous month.

Although the average export price decreased slightly compared to July, reaching 1,637 USD/ton, when compared to the same period last year, this figure still shows strong growth of up to 26.8%. This reflects the increasing demand for Vietnamese rubber in the international market, while opening up great opportunities for transportation and logistics companies in meeting the growing transportation needs.

With high export prices, the rubber industry aims for a target of 3-3.5 billion USD

Looking at the overall picture of the first 8 months of the year, although export volume decreased slightly by 7.2%, reaching 1.12 million tons, export value surged by 8.4%, reaching 1.76 billion USD. This discrepancy shows that the Vietnamese rubber industry’s strategy of focusing on quality and added value is proving effective. At the same time, it also sets new requirements for shipping companies in ensuring safety and quality for high-value goods.

With the current growth momentum, experts forecast that rubber exports in 2024 could reach 3-3.5 billion USD, an increase of 200-400 million USD compared to the previous year. This prospect not only opens up golden opportunities for the rubber industry but also creates a great demand for international transportation services, especially sea transport for this commodity.

Delving into the product structure, HS 400280 continues to hold a key position in the export list, accounting for up to 55.3% of the country’s total rubber export volume. Although there has been a decrease in volume and value compared to last year, the dominance of this item still sets requirements for forwarder companies in specializing transportation services for this specific type of rubber.

Notably, the export prices of most rubber types recorded impressive increases in the first 7 months of the year. RSS1 led with an increase of 26.9%, followed closely by Latex with 26.3% and Skim block with 25%. This price increase not only reflects the improving quality of Vietnamese rubber but also requires international shipping services to raise standards to ensure safety for high-value goods.

Overall, the picture of Vietnamese rubber exports is becoming increasingly bright, opening up many opportunities for both the manufacturing and logistics industries. To maximize this potential, shipping companies need to quickly adapt, invest in advanced preservation technology, and expand their network of international partners. In this way, the logistics industry not only strongly supports the development of the rubber industry but can also become an important driving force in increasing Vietnam’s export value.