News From Secretariat
ANRPC Releases Monthly NR Statistical Report, October 2022
Nov 17, 2022
The Association of Natural Rubber Producing Countries (ANRPC) releases the Monthly NR Statistical Report, October 2022.
The world produced about 1.435 million tons of natural rubber (NR) during October 2022, about 87% of the production attributed from ANRPC members. While the growth in global demand of NR recorded at 1.2% to 1.301 million tons during the same reference period. The rubber markets across major producing countries have posted downward price trends in October 2022.
In the block rubber market, the rubber of SMR-20 inched lower in October 2022 as compared to the previous month while the STR-20 kept its average pricing same during the reference period. In RSS markets, a mixed trend observed between RSS-3 in Bangkok and RSS-4 in Kottayam. The RSS-3 in Bangkok has unexpectedly increased its average pricing, while the price of RSS-4 in Kottayam fell marginally during October 2022.
The worries of global recession rise following another hike of 75 basis point from US Federal Reserve to battle inflation in early November 2022, which the same move could be expected from other central banks. As a result, the recovery of global economy after the pandemic. under such inflationary pressure economy and higher cost of borrowing, might be refrained. Although a slower growth is anticipated for global demand of NR this year in view of such economic condition, the global demand of NR is expected to grow by 2.1% to 14.805 million tons as compared to 14.495 million tons in 2021.
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R. B. Premadasa