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Top 10 largest rubber exporters in Vietnam in 2021

Top 10 largest rubber exporters in Vietnam in 2021

Wednesday 14, 07 2021

Van Loi Company Limited is one of the leading rubber exporters in Vietnam. In the first 5 months of 2021, the total export turnover of rubber of this enterprise reached 129.427 million USD. This company was established in 1999. It specializes in manufacturing and exporting all kinds of natural rubber (SVR 3L, SVR 10, SVR 5, RSS, etc).

Van Loi Company Limited owns a factory with area of 10,000 m2 whose annual capacity is 20,000 tons. The company's products are assessed to meet Vietnamese standards and have been exported to more than 20 countries around the world.

Following is Binh Phuoc General Import-Export Joint Stock Company, whose total rubber export turnover reached 103.758 million USD in the first 5 months of 2021. This is also a big player in the Vietnamese rubber industry.

In addition to the two enterprises mentioned above, the list of top rubber exporters in Vietnam also comprises LIEN ANH PRODUCTION RUBBER CO., LTD, VIET PHU THINH RUBBER JOINT STOCK COMPANY, TIEN THANH LIMITED COMPANY, whose rubber export turnovers all reached over 37 million USD in the first 5 months of 2021.

Top rubber

In June 2021, Vietnam’s exports of rubber decreased compared to June 2020. However, in the first 6 months of 2021, total rubber exports of Vietnam increased by 41.3% in volume and 79.9% in turnover compared to the same period in 2020.

It is forecasted that rubber prices will experience a sharp increase in the coming time due to decreasing supply and increasing demand.

Global demand for rubber is on the rise

According to statistics from the General Department of Customs, Vietnam's rubber exports in May 2021 reached 79.51 thousand tons, with a turnover of 137.6 million USD, up 11.5% in volume and 60.4% in turnover compared to the same period last year.

For the first 5 months of 2021, rubber exports reached 531.3 thousand tons, with a turnover of 893.67 million USD, up 61.8% in volume and 97.6% in turnover over the same period in 2020.

The average export price of rubber in May 2021 reached 1,730.3 USD/ton, which is a decrease of 2.6% compared to April 2021 yet an increase of 43.9% compared to May 2020. Generally in the first 5 months of 2021, the average export price of rubber reached 1,682.2 USD/ton, up 22.1% over the same period in 2020.

Monthly export

In May 2021, Vietnam mainly exported rubber to the Chinese market, with the export volume reaching nearly 52 thousand tons and turnover reaching of 86.2 million USD, up 56.2% in volume and 54.7% in value compared to April 2021. Generally in the first 5 months of 2020, Vietnam’s rubber exports to the Chinese market reached 375.8 thousand tons, which is equal to 605 million USD in value.

Since the beginning of 2021, the world natural rubber price has increased steadily due to changes in supply - demand, oil price, oil exchange rate, exchange rate, geopolitical factors and the health of the world economy. Therefore, when China's economy recovers quickly, along with the acceleration of global vaccination coverage and the economic stimulus package worth 1.9 trillion USD of the US government - one of the largest economic stimulus measures in US history, has contributed to boosting the global economy.

It is forecasted that in the coming months, demands for imported rubber of the US will recover in the context of limited natural rubber supply, which will create a good sentiment in the markets.

According to the Association of Natural Rubber Producing Countries (ANRPC), the global price of natural rubber will increase slightly in the short term when rubber demand increases, oil prices increase, supply is limited and the value of the dollar is increasing against other currencies. Active vaccination campaigns in developed economies will support global rubber demand, especially in markets such as China, the United States and Europe.

Global rubber

Global rubber supply started to improve from the last week of May 2021. ANRPC predicted that global natural rubber production in June 2021 would increase by 15.8% compared to May 2021. However, the uptrend may be hindered by a sharp increase in the number of new Covid-19 cases in Thailand, India, Malaysia, Cambodia and Sri Lanka. ANRPC also mentioned that the supply chain of goods in general and rubber in particular would be interrupted due to the lack of containers.

This will lead to delayed deliveries and uncertain supply, which may force some companies in some rubber producing countries to change their business strategies, or to extend delivery deadlines, or to seek domestic rubber supply, although the price is higher than imported rubber.

Source: Ministry of Industyr and Trade

Compiled by VietnamCredit

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