Indonesia, Korea, Malaysia, Vietnam and Thailand are the 5 largest markets supplying rubber to India. Rubber imports from these markets all increased sharply over the same period in 2020.
According to the Import-Export Department, in 2021, India’s rubber demand will increase sharply, causing the country to import more because domestic production cannot meet the demand. Therefore, by the end of September, Vietnam was the fourth largest market supplying rubber to India with 69,140 tons, worth 132 million USD, up 46.5% in volume and 92.1% in value compared to the same period in 2020.
Rubber imported from Vietnam accounted for 8% of India’s total rubber imports, up from 7.7% in the same period last year.
Particularly for natural rubber, in the past 9 months, India imported 356,800 tons of natural rubber (HS code: 4001), worth USD 652.79 million, up 31.5% in volume and 66.7% in value over the same period in 2020, of which Vietnam is the second largest market supplying natural rubber to India with 67,870 tons, worth 129.24 million USD, up 44.8% in volume and increased 89.6% in value over the same period last year.
Notably, Vietnam’s natural rubber market share in India’s total imports in the first nine months of 2021 accounted for 19%, up from 17.3% in the same period last year.
Moreover, the main market structure supplying natural rubber to India in the first nine months of 2021 has changed when the rubber market share of Indonesia, Côte d'Ivoire, Singapore in total imports of India decreased, while the market share of Vietnam, Malaysia and Thailand increased again.