Vietnam is Indias third-largest rubber supplier
Imports of Vietnamese rubber this year increased sharply in India. Vietnam is currently among this market's top 3 rubber suppliers.
Vietnam is the third-largest market supplying rubber for India. Photo: TL.
According to the Ministry of Commerce and Industry of India, over the 10 months of 2021, India imported 969.34 billion tons of rubber, worth USD 1.93 billion, up 38.1% in volume and 72.7% in value over the same session of 2020.
Indonesia, South Korea, Vietnam, Malaysia and Thailand are the 5 largest markets supplying rubber for India. Notably, rubber imports from these markets all show sharp increases both in volume and value in comparison with the same session of 2020.
Over 10 months of 2021, Vietnam is the third-largest market supplying rubber for India with 82.59 thousand tons, worth USD 157.15 million, up 53.5% in volume and 101.1% in value over the same session in 2020.
Rubber imported from Vietnam accounted for 8.5% of India's total rubber import volume, an increase from 7.7% in the same period of 2020.
Regarding natural rubber variations, Vietnam is the second-largest supplying market for India with 81.19 thousand tons, worth USD 154.1 million, up 52.5% in volume and 99.1% in value over the same session of 2020.
Vietnam’s natural rubber market share in India’s total import over 10 months of 2021 accounted for 20.1%, an increase compared to the 17.4% rate in the same period of 2020.
The main market structure supplying natural rubber to India over 10 months of 2021 has changed, the rubber market shares of Indonesia and Singapore in India's total import decreased, while the market shares of Vietnam and Malaysia, Ivory Coast and Thailand increased.
Information from the Agency of Foreign Trade (Ministry of Industry and Trade ) shows that India is the second-largest market for Vietnam’s rubber. Over 11 months of 2021, rubber export to India reached 104.74 thousand tons, worth USD 186.55 million, up 96.7% in quantity and 148.5% in value over the same session last year.
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