Vietnam’s rubber export price hits multi-year high as China demand weakens
Vietnam’s average rubber export price reached $2,130 per tonne in June, the highest level recorded in several years. Higher prices supported revenue, but weaker Chinese demand kept first-half export volume below its 2025 level.
June shipments recover with the new harvest
Vietnam’s average rubber export price rose to $2,130 per tonne in June, its highest recorded level in several years, as international rubber prices remained elevated alongside crude oil. The price was 4.9% higher than in May and 27.7% above June 2025, according to Vietnam’s Import-Export Department, citing data from the Vietnam Customs Department.
Vietnam exported 114,010 tonnes of rubber worth $242.83 million during June. Shipments increased 54.1% by volume and 61.6% by value from the previous month as the new harvest replenished available supply. Compared with June 2025, however, volume fell 20.6%, while value edged up 1.4% because of the stronger export price.
For the first six months of 2026, exports totalled 638,445 tonnes valued at $1.23 billion. Volume declined 8% and value fell 4.6% from the same period of 2025. The average first-half export price was $1,924 per tonne, up 3.7% year on year. The figures show that the price rally softened the revenue impact of lower shipments but did not fully offset it.
China’s share falls below 60%
Demand from China, Vietnam’s largest rubber export market, remained the principal constraint. June shipments to China dropped 44.9% year on year to 52,809 tonnes, while their value decreased 25% to $117.33 million.
Across the first half, Vietnam shipped 381,094 tonnes to China for $730.85 million. These figures were down 21.5% by volume and 18.1% by value from a year earlier. China’s share of Vietnam’s total rubber export volume consequently fell from 70% to 59.8%, reducing the market’s dominance but also exposing the scale of the demand slowdown.
Exports to Turkey, the United States, Russia and Brazil also declined during the first half. For producers and traders, this broad weakness means that high benchmark prices alone may not generate export growth if industrial buyers continue to limit purchasing volumes.
Indonesia leads market diversification
Indonesia emerged as the strongest major growth market and became the second-largest destination for Vietnamese rubber. First-half shipments reached 47,782 tonnes worth $89.7 million, rising 143.7% by volume and 140.3% by value compared with the same period of 2025.
Other destinations also expanded. Export volumes increased 22.8% to India, 52.2% to Malaysia, 19.4% to South Korea and 18.5% to Taiwan. Mexico recorded the fastest growth, with shipments rising by more than 300%. No absolute shipment figures were provided for these markets.
Oil-linked prices support the outlook
The Import-Export Department expects Vietnamese exporters to continue benefiting from high selling prices while global rubber prices remain supported by crude oil. The relationship matters because petroleum prices influence the economics of synthetic rubber, which competes with natural rubber in manufacturing applications.
The main risk remains slower Chinese import demand. The department identified greater sales to Indonesia, India, Malaysia and Mexico as an important route for reducing dependence on China. For the industry, maintaining the June price level while expanding these destinations would improve resilience, but the first-half data indicate that emerging markets have not yet replaced the lost Chinese volume.
