Deep processing increases the value of rubber exports to the United States

According to the latest report of the Import-Export Department , in April 2024, the United States was Vietnam's 10th largest rubber export market.

Statistics from the General Department of Customs, in April 2024, Vietnam exported nearly 1,009 tons of rubber to the United States with a value of 1.87 million USD, an increase of 0.3% in volume and an increase of 17.5% in value. compared to April 2023.

Therefore, accumulated in the first 4 months of 2024, Vietnam's rubber exports to the United States reached nearly 7,460 tons, worth 11.7 million USD, an increase of 37.1% in volume and an increase of 58.2% in value. compared to the same period in 2023.

The United States is Vietnam's 10th largest rubber export market. (Illustration)

The Import-Export Department also said that in recent times, rubber exports to the United States have increased again, Vietnam's rubber market share in the United States has gradually improved, but only accounts for a low market share in total imports. US exports, so Vietnam's rubber still has a lot of room to export to this market. It is forecast that Vietnam's rubber exports to the United States will be better in 2024.

However, many experts say that Vietnamese rubber products exported to the United States currently face many obstacles. Competition from major competitors in terms of output and quality is always a big challenge for Vietnamese export enterprises.

According to General Secretary of the Vietnam Rubber Association Vo Hoang An, in order to increase rubber exports to the United States, Vietnamese businesses need to actively develop the industry further in a sustainable direction, increasing the certified area. Adopt sustainable forest management to take advantage of providing materials and products to manufacturers in the US market.

In addition, export businesses need to be careful to clearly understand and comply with the strict technical barriers of the US market to avoid orders being returned due to not fully meeting import regulations.

From a business perspective, Mr. Do Minh Tuan - General Director of Dong Nai Rubber Corporation Limited (Dong Nai Rubber Corporation) - said that the unit will diversify the types of latex products, producing products according to customer requirements, with high added value, producing the enterprise's own brand products.