The Ministry of Industry and Trade’s Import-Export Department cited statistics from the General Department of Vietnam Customs as saying that Vietnam exported 9,470 tons of rubber to India in May 2024, worth 15.83 billion VND, up 7.2% in volume and 6.8% in value from the previous month and up 4.6% in volume but down 18.3% in value year on year.
In the first five months of 2024, Vietnam’s rubber exports to India totaled 47,230 tons, worth 75.79 million USD, up 42.8% in volume and 63.5% in value year on year.
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| India is Vietnam’s second largest rubber export market. (Photo: congthuong.vn) |
In the five months, Vietnam mainly exported natural rubber to the market. Among them, the SVR 10 type is most exported, accounting for 61.81% of the total rubber exported to India with 29,190 tons, worth 45.54 million USD, up 64.2% in volume and up 87% in value year on year.
In addition, during the period, exports of some types of rubber to India also increased sharply compared to the same period in 2023 such as: SVR CV60, mixed rubber (HS: 4005), synthetic rubber, and SVR 5. However, these types only account for a small proportion of the total amount of rubber exported to the market.
According to statistics from the Indian Ministry of Commerce, in the first four months of 2024, the Republic of Korea, Ivory Coast, Thailand, Vietnam and Malaysia are the five largest rubber suppliers to India. India’s rubber imports from these markets all increased significantly over the same period last year.
In the four months, Vietnam is the 4th largest rubber supplier for India with 40,310 tons, worth 64.91 million USD, up 79% in volume and 93.1% in value year on year. Vietnam’s rubber market share in India’s total rubber imports accounts for 9.82%, higher than 6.39% in the first 4 months of 2023./.