India becomes second biggest importer of Vietnamese rubber in five months

28/06/2024 03:39 - 57 Views

Vietnam was India’s second largest supplier of rubber during the first five months of this year, according to data released by the Ministry of Industry and Trade’s Agency of Foreign Trade.

The reviewed period witnessed the country export 47,230 tonnes of rubber to India for US$75.79 million, up 42.8% in volume and 63.5% in value compared to the same period last year.

May alone saw businesses ship 9,470 tonnes of rubber to the South Asian country, raking in US$15.83 million, up 7.2% in volume and 6.8% in value month on month.

Natural rubber from the Vietnamese market is the primary product exported to India. Particularly, the SVR 10 accounted for the largest portion of the total exported rubber at 61.81%, followed by SVR 3L and RSS3 at 24.85% and 5.29%, respectively.

The average export price of various types of rubber to India in the first five months of the year mostly increased compared to the same period from 2023. Of which, latex witnessed the strongest rise with 28.3%, followed by SVR 10 at 13.9%, RSS3 at 13.4%, SVR 3L at 10.6%, and SVR CV60 at 9.4%.

Source: VOV