Vietnam reports lower rubber exports for first nine months of 2024

Hanoi, Vietnam – Vietnam exported 1.37 million tons of rubber worth US$2.18 billion during the nine-month period, representing a fall of 2.2% in volume but an increase of 16.4% in value against the same period from last year, according to details given by the Ministry of Industry and Trade.

September alone witnessed the country ship about 250,000 tons of rubber worth US$424 million, up 19.2% in volume and 23% in value compared to August.

The figure also represented a rise of 29.2% in volume and 68.4% on-year in terms of value

The average export price of rubber stood at US$1,697 per ton, up 3.2% from August and up 30.3% compared to September last year.

According to industry insiders, the demand for rubber purchases are forecast to increase ahead in the remaining months of the year.

Furthermore, rubber prices are likely to remain high from now until the first half of 2025 due to the serious impact of the recent super typhoon Yagi on rubber production in Vietnam, China, Thailand, and Malaysia, thereby affecting the supply source of raw materials during the peak season.