Việt Nam targets $3.3 billion in rubber exports this year

Việt Nam targets $3.3 billion in rubber exports this year

To reach the export target, the rubber sector needs to focus on various measures tailored to each key market such as the European Union (EU), with an emphasis on high-quality products that comply with the EU Deforestation Regulation (EUDR), starting in 2026.

Workers process rubber for export at the Phú Riềng Company's factory. — VNA/VNS Photo

To achieve its 2025 rubber export target of US$3.3 billion – down 4.6 per cent from 2024, Việt Nam needs to strive to earn $2.1 billion in the second half of this year, according to the Ministry of Agriculture and Environment (MAE).

The export revenue in the first six months is estimated at $1.2 billion, statistics show.

The MAE said the rubber sector needs to focus on various measures tailored to each key market such as the European Union (EU), with an emphasis on high-quality products that comply with the EU Deforestation Regulation (EUDR), starting in 2026.

The EU remains a strategic market, accounting for 7.4 per cent of Việt Nam’s total rubber export value. Notably, 95 per cent of the rubber exports to the EU are high-value-added products. However, maintaining and expanding the market share in the EU will require strict compliance with the EUDR, which mandates full traceability and assurance that production does not contribute to deforestation.

Việt Nam's rubber supply chain is still complex, with 63 per cent of raw materials sourced from smallholders and 37 per cent from large-scale plantations. Imported rubber, mainly from Cambodia and to a lesser extent from Laos, also contributes to the domestic processing supply.

According to Forest Trends expert Nguyễn Vinh Quang, ensuring EUDR compliance will require strict monitoring of imported raw materials, down to each cultivation plot.

Efforts are underway to develop EUDR-compliant production models. Large-scaled plantations under the Vietnam Rubber Group are leading in standardisation, while several private companies such as Mai Vĩnh, Việt Sing, and Thuận Lợi are working closely with smallholders and purchasing agents to establish traceable and legal supply chains.

These compliant rubber products are already being exported to the EU at premiums of $150–300 per tonne compared to conventional rubber.

"Demand is increasing. We’re planning to expand production to satisfy the market,” said Đặng Thị Hoa Mai, Director of the Mai Vĩnh Company.

Phan Trần Hồng Vân of the Vietnam Rubber Association (VRA) affirmed the association’s commitment to supporting stakeholders in meeting the EUDR and other global market requirements, adding international cooperation and shared experience will be key to building a sustainable and transparent rubber supply chain.

Experts also emphasised the need for technical and financial support for private companies and smallholders, as well as the development of a unified national traceability platform. Public-private partnerships should be expanded to strengthen connections between domestic producers and major markets such as China, the US, and the EU.

The MAE said it is also encouraging innovation in processing and quality improvement to help Vietnamese rubber products penetrate mid- and high-end segments in markets like Spain and Italy, especially in fashion and home goods.

It will also support businesses in building brands and achieving international certificates such as the Forest Stewardship Council (FSC) one for sustainable management, contributing to expanding market share and enhancing the position of the Vietnamese rubber industry in the international market. 

Bizhub