China remains top buyer of Vietnam’s rubber

HCMC – China remains the largest market for Vietnam’s rubber export sector, according to data from the Ministry of Industry and Trade. In July, Vietnam’s rubber export volume surged by 22.6% to 219,630 tons month-on-month and by 20.6% in value at US$286.79 million. In January-July, Vietnam’s rubber exports totaled 986,490 tons, rising a modest 0.3% in quantity but dropping 20.5% in value year on year due to the persistent decline in rubber prices. China remained Vietnam’s primary rubber export destination, accounting for a substantial 79.82% of the nation’s total rubber export volume in July. The northern neighbor bought 175,300 tons of rubber from Vietnam for US$226.3 million during the month, a 27.6% increase in quantity and a 26.4% rise in value compared to June.