Vietnam earns 160 million USD from rubber exports in Feb
Vietnam shipped 110,000 tonnes of rubber abroad last month, earning more than 160 million USD, according to the Ministry of Agriculture and Rural Development (MARD).
Workers at a rubber factory in the southern province of Binh Phuoc. (Photo: VNA)
Hanoi (VNA) - Vietnam shipped 110,000tonnes of rubber abroad last month, earning more than 160 million USD, accordingto the Ministry of Agriculture and Rural Development (MARD).
The February figure brought the country’s totalrubber exports in the first two months of 2024 to 320,000 tonnes, worth 458million USD.
China remained Vietnam’s largest rubber buyer,importing 227,000 tonnes for 317 million USD, an increase of 10.1% in volumeand 14.4% in value compared to the same period last year.
Meanwhile, the Southeast Asian country's rubber exports to major internationalmarkets, including the Republic of Korea, the US, Germany, Russia, Italy,Brazil, Spain and Turkey, have all increased.
Vietnamese rubber fetched 1,481 USD per tonne ininternational markets, an increase of 5% compared to January.
Industry experts said there are severalcontributing factors to the rise in rubber prices, with the largest factorbeing the booming car sales in China. As a result, demand for tyres for newcars in China has increased by 30%, boosting demand for natural rubber, andthis trend will likely continue in the coming months./.
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Although 2024 is forecast to be a challenging year for the rubber sector, posed by unfavourable weather conditions and unpredictable market development, the Vietnam Rubber Group Joint Stock Company (VRG) is still eying over 4.1 trillion VND (166.6 million USD) in pre-tax profit, up 2.2% year-on-year.
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Workers at a rubber factory in the southern province of Binh Phuoc. (Photo: VNA) 
