Vietnam becomes RoK’s fourth largest rubber supplier

Vietnam ranked fourth among the Republic of Korea (RoK)’s five largest suppliers of rubber, according to the Import-Export Department under the Ministry of Industry and Trade.

The department cited the General Administration of Vietnam Customs indicating that in the January - April period the country exported 12,470 tonnes of rubber to the RoK for US$18.92 million, up 5.6% in volume but down 15% in value year on year.

The average export price to the market reached US$1,517 per tonne, a drop of 19.5% compared to the same period in 2022.

In the reviewed period, Vietnam mostly exported to the RoK natural rubbers of various types; including SVR 10, SVR CV60 and SVR 3L, making up 28.05%, 24.53% and 14.44% of the total export volume respectively.

The market share of Vietnamese rubber in the RoK market stood at just 5.88%, a sharp decline from 8.36% recorded in the same period last year. Meanwhile, an upturn was seen in its market share in Indonesia, China, the Philippines, Cambodia, and Germany.

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