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Rice exporter country

/ March 8, 2021

Plenty of room for export growth into French market

Vietnamese merchandise exports to the European country soared by 28% to over US$308.3 million in January 2021 compared to same period from last year Simultaneously, Vietnamese imports from France surged by 92% to US$175 million, with the country recording a trade surplus of US$133.3 million. Amid numerous challenges posed by the impact of the novel coronavirus (COVID-19) pandemic, some goods such as transportation and spare parts, leather and footwear, and rice witnessed robust growth rate of 222%, 160%, and 110%, respectively. These stellar increases can largely be attributed to tariff reduction commitments which were implemented following the enforcement of the EU-Vietnam Free Trade Agreement (EVFTA). Despite limited export scale, fruit and vegetable exports also recorded an increase of 17% to over US$3.5 million from last year’s corresponding period. With France representing the second largest export market of Vietnamese fruit in the EU, there is plenty of room to boost the export of these products to the market due to substantial tariff reductions through the EVFTA. According to data compiled by the Vietnamese Ministry of Industry and Trade, France has consistently been one of Vietnam’s leading trade partners in the EU over recent years. Most notably, the European country makes up the fourth largest Vietnamese export market in the EU, behind the Netherlands, Germany, and Austria, thereby accounting for approximately 10% of the total exports to the bloc. Yet, the proportion of Vietnamese goods exported to the market remains modest, representing a mere 1.1% of France’s total imports. Local merchandise exports to France are forecast to grow at the end of the first quarter due to the COVID-19 pandemic being brought under control and lockdowns subsequently being lifted. …

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/ January 7, 2021

Rubber exports rake in US$2.38 billion in 2020

According to the latest information released by the Import and Export Department under the Ministry of Industry and Trade, rubber exports in December, 2020, hit 225 thousand tonnes, worth US$ 358 million, a boost of 13.2% in volume and 29.8% in value over the same period from the previous year. In line with this, the average export price increased by 14.7% over the same period from 2019 to US$1,591 per tonne. Statistics compiled by the General Department of Customs indicate that, during the opening 11 months of 2020, natural rubber and synthetic rubber (HS code 400280) became the most exported commodity, accounting for 65.54% of the country’s total rubber export volume. Most notably, rubber exports to China made up 99% of the nation’s total natural rubber and synthetic rubber exports at 987.63 thousand tonnes, worth US$1.32 billion, a rise of 24.8% in volume and 23.7% in value compared to the corresponding period from 2019. In relation to the domestic market, the price of raw rubber materials nationwide increased during the first 10 days of December, before subsequently experiencing a downturn. Furthermore, December saw a number of rubber companies announce adjustments in the purchasing price of raw rubber latex at gardens and factories. …

[Read more...] about Rubber exports rake in US$2.38 billion in 2020

/ March 8, 2021

Local rubber exports to China enjoy impressive growth

Of the total, natural rubber and synthetic rubber were the most exported commodity to China, making up 83.32% of the country’s total rubber exports to the northern neighbour. The export of both products reached 1.13 million tonnes worth US$1.55 billion, marking a boost of 23.7% in volume and 24.7% in value compared to the same period from 2019. Last year witnessed several types of rubber exported to China achieve positive growth in both volume and value compared to 2019, with latex topping the list, rising by 52.6% in volume and 67.3% in value. The impressive growth of Vietnamese rubber exports to China is attributed to the importer’s launch of a policy aimed at boosting the use of small cars, thereby encouraging tire manufacturers to increase production. Furthermore, rubber production within China endure a decline due to significant storms hitting Hainan island and droughts affecting Yunnan, thereby having a negative impact on rubber harvests. According to statistics released by the Chinese General Administration of Customs, last year saw China's rubber imports reach US$10.94 billion, up 4.6% compared to 2019. Thailand, Vietnam, Malaysia, Indonsia and the Republic of Korea represent the five largest rubber suppliers to the Chinese market. …

[Read more...] about Local rubber exports to China enjoy impressive growth

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