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Rubber exports see decrease due to demand decline in first 6 months |
The Vietnam Customs said that rubber exports reached about 766,000 tons, worth US$1.05 billion, down 2.6 percent in volume and 22 percent in value over the same period last year.
Customs statistics forecast that rubber export turnover was estimated at US$1,327 a ton, down 19.6 percent compared to June 2022. In particular, the mixture of natural rubber and synthetic rubber was still the most exported product, accounting for 66 percent of the country's total rubber exports. Roughly 392,450 tons were sold worth $538 million, up 11 percent in quantity.
According to the Vietnam Rubber Group, the current world economy is not good, so rubber consumption is still weak; prices of exported rubber are unlikely to recover from now until the end of 2023, but it is expected to be more stable from 2024 onwards.
