Rubber exports will face difficulties at the end of the year
The import and export management department of the Ministry of Industry and Trade said difficulties in Vietnam's rubber exports remained in the fourth quarter as the US dollar had entered a bullish cycle as a haven against inflation.
According to experts, latex prices tend to fall when the dollar rises. In addition, prolonged heavy rains during this year's harvest peak also affected latex production.
Vietnam exported 609,170 tons of rubber worth $930.86 million in the third quarter, up 6 percent in volume but down 1.8 percent in value year-on-year due to falling prices, the Ministry of Commerce said, citing data from the General Administration of Customs.
China remained the largest importer of Vietnamese rubber, importing 453,060 tons worth $669.14 million, up 10.4 percent year on year, and 0.5 percent by value. It accounts for 70.2% of Vietnam's total rubber exports.
India was second with 42,040 tons worth $69.64 million, up 25.1 percent annually and 18.3 percent in value.
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