2 Oct 2023
In August, the market for natural rubber (NR) was skeptical due to ongoing geopolitical tensions and the recent increase in interest rates by the Federal Reserve. During the reference period, global production of NR increased by 4.2% on an annual basis.
The Association of Natural Rubber Producing Countries (ANRPC) releases the Monthly NR Statistical Report, August 2023.
In August, the market for natural rubber (NR) was skeptical due to ongoing geopolitical tensions and the recent increase in interest rates by the Federal Reserve. During the reference period, global production of NR increased by 4.2% on an annual basis, while global demand increased by 0.2%.
In the first half of August, this imbalance in growth between global NR production and demand posed challenges to the physical and futures markets across countries, in addition to the already existing ongoing concerns with global developments and economic growth in major consuming countries amidst other unfavorable external factors. The NR market progressively picked up and strengthened nonetheless in the second half of August on account of market participants' optimism regarding the economic outlook of major consuming nations and improved market sentiments.
Snapshots of the recent trend of outlook in the global NR market are shown below:
I would like to express my gratitude to the rubber stakeholders who had registered for our 13th ANRPC Annual Rubber Conference in Guwahati, India on 9 October 2023. This conference has received registration from ANRPC member governments and other emerging producing countries from West Africa. All interested individual(s) and organization(s) are still able to register with the online registration form <register here> on a first-come first served basis. The updated conference program is available <here>.
For further information or assistance, you may contact the ANRPC Secretariat for further details at firstname.lastname@example.org.
TOH, Heng Guan