Rubber export prices in November 2023 increased slightly

Import and Export Department (Ministry of Industry and Trade) cited statistics from the General Department of Customs saying that it is estimated that, export Vietnam's rubber in November 2023 reached about 250 thousand tons, worth 343 million USD, an increase of 14.5% in volume and an increase of 16.6% in value compared to the month October 2023; but compared to November 2022, it decreased by 1.4% in volume and 0.4% in value.

Rubber export prices in November 2023 increased slightly

The average rubber export price in November 2023 is at 1,370 USD/ton, up 1.8% compared to October 2023 and up 1% compared to November 2022.

Accumulated in the first 11 months of 2023, rubber exports will reach about 1.87 million tons, worth 2.51 billion USD, down 0.2% in volume and down 14.9% in value compared to the same period in 2022.

In the first 10 months of 2023, Vietnam's exported rubber types are mainly mixed natural rubber and synthetic rubber (HS 400280), Latex, SVR 10, SVR 3L, SVR CV60, RSS3, SVR 20 ...

Among them, the mixture of natural rubber and synthetic rubber (HS 400280) is still the most exported product, accounting for 67.51% in volume and 68.66% in value of total rubber exports. of the whole country, with over 1.09 million tons, worth 1.48 billion USD, an increase of 16.4% in volume, but a decrease of 1.9% in value compared to the same period in 2022.

Of which, exports to Chinese market account for 99.77% in volume and 99.62% in value. in the country's total mixture of natural rubber and synthetic rubber.

On the world market, in November 2023, rubber prices at key Asian exchanges fluctuated in an upward trend in the context of low inventories, raising concerns about tight supply, while the China's efforts to boost its economy and real estate sector have led to optimism about demand among the world's top consumers.

In the domestic market, in November 2023, raw rubber latex prices across the country decreased compared to the previous month. At rubber companies, latex prices are currently maintained around 270 - 313 VND/TSC.

In particular, Phuoc Hoa Rubber Company reduced the purchasing price to 311 - 313 VND/TSC, down 2 VND/TSC compared to the end of last month. Phu Rieng Rubber Company keeps the purchasing price at 285 - 305 VND/TSC.

Ba Ria Rubber Company adjusted the purchasing price of latex to 280-290 VND/TSC, down 5 VND/TSC compared to the end of last month. Binh Long Rubber Company adjusted the purchasing price to 285 - 295 VND/TSC, down 7 VND/TSC compared to the end of last month. Mang Yang Rubber Company adjusted the purchasing price to 270 - 278 VND/TSC, down 2 VND/TSC compared to the end of last month.