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China top consumer of Vietnam’s natural rubber in Q1

By Toan Dao   April 14, 2016 | 03:31 pm GMT+7

Vietnam exported 128,721 tons of natural rubber to the world's second-largest economy in the first three months of 206, rising 50 percent from a year earlier, latest Vietnamese customs data show.

The export volume to China in Q1 accounted for 54.2 percent of Vietnam’s total exports of 237,418 tons in the period. Other key markets for Vietnamese natural rubber over January-March comprised Malaysia with 18,125 tons, down 42 percent year on year and India with 17,674 tons, rising 5.9 percent from the same period in 2015.

Vietnam will continue to keep the export duty of natural rubber at zero percent in 2016. The government removed the tax in October 2014, from one percent previously, to assist exporters as prices had been falling since then, Vietnam Rubber Association said in January.

In March, Vietnam exported 91,167 tons of natural rubber, surging 54.1% from 62,847 tons in the same month in 2015, mainly to China, Malaysia and India, according to the data.

Tags: China rubber