The Import-Export Department (Ministry of Industry and Trade) estimates that in December 2021, Vietnam's rubber exports would reach 270 thousand tons, worth USD 464 million, an increase of 27.8% in volume and 29.9% in value compared to November 2021; compared with December 2020, an increase of 19.4% in volume and 28.8% in value; the average export price  at USD 1,720/ton, increased by 1.6% compared to November 2021 and increased by 7.9% compared to December 2020. In 2021, Vietnam's rubber exports are estimated at 1.97 million tons, worth USD 3.3 billion, an increase of 12.9% in volume and 39% in value compared to 2020.

Vietnam's rubber exports in the past year achieved high growth due to increased imports from China, India, Korea, the United States, Indonesia, Turkey, the Netherlands, the Czech Republic, and Canada.

Also according to the Import-Export Department, in the domestic market, in December 2021,  rubber production in the country was affected by the complicated developments of the Covid-19 pandemic in the main producing provinces such as Binh Phuoc, Dong Nai, and Binh Duong. In December 2021, the rubber latex price purchased from smallholder farmers fluctuated around VND 290 - 320 per degree TSC, down 5-8 VND/degree TSC compared to the end of November 2021. In Binh Duong, the purchasing price of raw rubber latex of Phuoc Hoa Rubber Company fluctuates at VND 318 - 322 per degree TSC. In Dong Nai, the purchase price of raw rubber latex fluctuates at 323 VND per degree TSC.

Currently, rubber prices in the world market are under pressure by factors other than supply and demand, mainly due to market psychology. However, according to the latest report of the Association of Natural Rubber Producing Countries (ANRPC), the global demand for natural rubber in 2021 is about 194 thousand tons higher than the output. Along with the world shortage of natural rubber in 2021, a sharp increase in oil prices will lead to a boom in rubber prices. It is forecast that rubber prices will increase again until the end of the first quarter of 2022.

Many experts predict that in the 2022-2024 period, the world rubber will probably enter a quite strong price increase cycle because the supply is decreasing, therefore Vietnam's rubber exports can continue to benefit in price.

With the optimistic situation of the rubber market, ministries and sectors have set a plan to export USD 3.5 billion for the rubber industry in 2022. Regarding the price trend of rubber in 2022, many forecasts say that the first quarter of 2022, prices will go flat with the price of USD 2.4/kg and rebound to the level of USD 3.8/kg in the second half of 2022 due to high demand. Meanwhile, global rubber production decreased due to reduced area and climate change factors.