The Import-Export Department (Ministry of Industry and Trade), citing statistics from the General Department of Customs, reported that in the first 15 days of February 2020, the country's rubber exports reached 42.69 thousand tons, valued at 62.43 million USD, up 144.9% in volume and 139.3% in value compared to the preceding 15 days; an increase of 99.3% in volume and 124.5% in value compared to the same period in 2019. The average export price of rubber in the first 15 days of February 2020 was $1,462 per ton, down 2.3% from the previous 15 days but up 12.6% compared to the same period in 2019.
From the beginning of the year until February 15, 2020, the country's rubber exports totaled 132.62 thousand tons, valued at 193.54 million USD, down 25.8% in volume and 15% in value compared to the same period in 2019. The average export price was $1,459 per ton, up 14.5% compared to the average export price for the same period in 2019.
According to the Import-Export Department, Vietnam's rubber exports are heavily dependent on the consumption demand of China, so any fluctuations in the rubber demand of this market significantly impact Vietnam's rubber industry. It is forecasted that in the first quarter of 2020, due to the impact of Covid-19, Vietnam's rubber exports to China will decrease compared to the same period in 2019. However, as rubber trees are entering the low season (from February to May every year), reducing production, the export risks are somewhat limited. Statistics show that in the first quarter of both 2018 and 2019, Vietnam's rubber exports to the Chinese market accounted for about 15% - 20% of the total rubber exports to this market for the whole year.
