Vietnam exported 260,000 tons of rubber in January worth $365 million, according to the General Department of Vietnam Customs.

The figure represents a year-on-year increase of 92.6 per cent in volume and 99.8 per cent in value.

The average export price was $1,404 per ton, up 0.9 per cent compared to December and 3.7 per cent against January 2023.

Vietnam earned $2.89 billion from exporting 2.14 million tons of rubber last year, down 0.1 per cent in volume and 12.8 per cent in value compared to 2022.

China remained its largest export market, accounting for 79.63 per cent of total exports, followed by India.

Vietnam’s rubber industry has set a target of earning $3.3-3.5 billion in export revenue this year.