The nation’s rubber exports reached an estimated figure of 1.75 million tonnes in 2020 with a value of USS$2.38 billion, representing an annual rise of 2.8% in volume and 3.5% in value compared to 2019, with the average export price at US$1,362 per tonne, an increase of 0.7% from a year earlier.

According to the latest information released by the Import and Export Department under the Ministry of Industry and Trade, rubber exports in December, 2020, hit 225 thousand tonnes, worth US$ 358 million, a boost of 13.2% in volume and 29.8% in value over the same period from the previous year. In line with this, the average export price increased by 14.7% over the same period from 2019 to US$1,591 per tonne.

Statistics compiled by the General Department of Customs indicate that, during the opening 11 months of 2020, natural rubber and synthetic rubber (HS code 400280) became the most exported commodity, accounting for 65.54% of the country’s total rubber export volume.

Most notably, rubber exports to China made up 99% of the nation’s total natural rubber and synthetic rubber exports at 987.63 thousand tonnes, worth US$1.32 billion, a rise of 24.8% in volume and 23.7% in value compared to the corresponding period from 2019.

In relation to the domestic market, the price of raw rubber materials nationwide increased during the first 10 days of December, before subsequently experiencing a downturn.

Furthermore, December saw a number of rubber companies announce adjustments in the purchasing price of raw rubber latex at gardens and factories.