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Rubber exports to Sri Lanka soar

21 Jun 2024, 15:45 PM SGT

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A worker at a rubber latex processing line of a unit of the Vietnam Rubber Group in Gia Lai Province. — VNA/VNS Photo 

HÀ NỘI — The Sri Lankan market suddenly increased rubber imports from Việt Nam with a growth of 435.7 per cent in volume and 530.5 per cent in value in the first five months of the year.

The Agency of Foreign Trade under the Ministry of Industry and Trade cited statistics from the General Department of Customs as saying that the country rubber exports reached 84,460 tonnes last month, worth US$135.64 million, up 14.8 per cent in volume and 14.5 per cent in value compared to April, but decreased by 27.9 per cent in volume and 14.9 per cent in value compared to May last year.

This is the second consecutive month that rubber exports have decreased compared to the same period last year.

In the first five months of this year, rubber exports reached 572,280 tonnes, worth $859.4 million, down 2.4 per cent in volume, but up 6 per cent in value compared to the same period last year.

Rubber exports to many major markets decreased in the first five months of this year, in particular markets such as China, the Netherlands and Peru.

However, exports to some markets still grew including India, South Korea, Russia, Indonesia, Sri Lanka, Turkey, Brazil and Italy.

Notably, Vietnamese rubber imports to the Sri Lankan market suddenly soared in the first five months of the year, rising the market share of rubber exports to this market from 0.26 per cent to 1.43 per cent of Việt Nam's total rubber exports. — VNS

Source: https://vietnamnews.vn