The Association of Natural Rubber Producing Countries (ANRPC) releases the Monthly NR Statistical Report, August & September 2022.
During August and September 2022, the accumulated global production of natural rubber (NR) recorded an increase of 71,000 tons to 2.693 million tons against the same period last year. While the global demand expanded 85,000 tons to 2.456 million tons during the same reference period. The excess supply during this period may have contributed to the price movements in rubber markets in physical and futures markets, other than the external factors such as slump in brent crude price and weaken global economy outlook.
Following the interest rates hikes by Federal Reserve recently, it has also signaled other hikes in the remaining two meetings till end of the year with their strong determination to battle the stubborn inflation in US. This has led to the appreciation of US dollar against the currencies of emerging countries. Given the stronger US dollar, it also made the rubber cheaper as most major producing countries’ currencies have lost strength against it.
We appreciate and value the feedback given by members and subscribers who had taken the online survey on Proposed Sustainable Price Mechanism during March 2022 to July 2022. The findings of this online survey have reported to the respective Committee.
Again, the incessant support and cooperation extended by the esteemed users, statistical correspondents, and stakeholders are once again gratefully acknowledged.
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R. B. Premadasa