Vietnam exports $1.7 billion in rubber for first eight months of 2024

Hanoi, Vietnam — Vietnam’s rubber exports reached more than US$1.7 billion in the first eight months of the year.

With this result, the whole year’s turnover is forecast to reach $3 – 3.5 billion, equivalent to an increase of $200 – 400 million compared to last year.

Rubber exports reached about 209,726 tons last month, according to data from the General Department of Customs, worth nearly $345 million, up 12.7 per cent in volume and 12 per cent in value, compared to the previous month.

The average export price of rubber is at $1,637 per ton, down about 1.1 per cent month-on-month, but up about 26.8 per cent year-on-year.

Rubber exports reached about 1.12 million tons in the first eight months of this year, worth $1.76 billion, down 7.2 per cent in volume, but up 8.4 per cent in value year-on-year.

Vietnam currently has a rubber latex output scale of 1.3 million tons per year from 910,000 hectares of rubber plantations, reported the Vietnam Rubber Association (VRA).