VIETNAM IS THE BIGGEST MARKET SUPPLYING NATURAL RUBBER TO INDIA
According to the Indian Ministry of Commerce, Vietnam is the largest market to supply natural rubber to India in the first 5 months of 2022 with 53.42 thousand tons, worth 107 million USD, up 42.4% in volume and increased by 50.7% in value over the same period in 2021.
Vietnam's natural rubber market share in India's total imports accounted for 23.5%, up sharply from 19.2% in the same period in 2021. Meanwhile, the market share of other leading rubber exporting countries, Indonesia and Thailand, decreased sharply in natural rubber imports to India.
Regarding rubber imported into India, Vietnam is ranked 2nd after Korea. In the first 5 months of this year, rubber imported from Vietnam to India reached 54 thousand tons, worth US$ 107.96 million, up 41.8% in volume and 49.7% in value over the same period in 2021.
Vietnamese rubber accounted for 10.9% of India's total rubber imports, higher than 7.5% in the same period in 2021. The market share of Vietnamese rubber is only slightly less than that of Korea (11.3%).
While Vietnam is the leading supplier of natural rubber to India, South Korea is the leading supplier of synthetic rubber. Vietnam's synthetic rubber accounts for only 0.27% of India's total imports in the first five months of 2022.
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