Vietnam ranks third worldwide in terms of rubber export value
Vietnam ranked third in the world in terms of rubber export value, with 3.24 billion USD in 2021, up 36.2 percent from the previous year, the Ministry of Agriculture and Rural Development (MARD) said.
Hanoi (VNA) – Vietnam rankedthird in the world in terms of rubber export value, with 3.24 billion USD in 2021, up 36.2 percentfrom the previous year, the Ministry of Agriculture and Rural Development(MARD) said.
Vietnamese rubber has been present in more than 80countries and territories, and the sector has penetrated more intensively inmajor markets.
The Vietnam Rubber Association (VRA) said the sectormakes up a large share of the country’s agricultural product exports, with tyres,gloves and rubber gaskets considered drivers of the industry.
Last year, the Vietnam Rubber Group (VRG) churnedout 402,900 tonnes of rubber latex, surpassing its set target by 6 percent andup 30,000 tonnes from the previous year.
It also purchased 90,500 tonnes of rubber latex,exceeding the target by 28 percent, and sold more than 490,000 tonnes, 7percent higher than the target.
The scarcity of rubber materials in 2021 which isexpected to continue this year, would benefit Vietnam in terms of both exportvolume and value, the VRA said.
The Association of Natural Rubber ProducingCountries (ANRPC) also forecast that the global rubber demand will increase inthe time ahead due to loosened travel restrictions and the reopening of bordersby countries, helping to resume economic activities.
Therefore, rubber prices would remain high this year,the association said.
Tran Ngoc Thuan, Chairman of the VRG Board of Directors, said the rubber sector and his business in particular are working to achievethe target of building a sustainable and competitive rubber industry.
The group’s cumulative revenue is projected to reach 30trillion VND (1.32 billion USD) and its profit is set at 6.3 trillion VND, headded.
VRG member businesses have made efforts in buildingbrand names and expanding the markets, while coordinating in market assessmentand price management, Thuan noted./.
Vietnam enjoyed a year-on-year rise of 13.1 percent in the export revenue of agro-forestry-fisheries products in the first 10 months of 2021 to nearly 38.75 billion USD, according to the Ministry of Agriculture and Rural Development (MARD).
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Illustrative image (Source: VNA) 
