17 Jan 2023
Based on the preliminary estimates from Member Governments, the world production of natural rubber (NR) registered 0.1% growth to 1.397 million tons during December 2022, the slowest growth in production of the year. Conversely, the world demand for NR grew
The Association of Natural Rubber Producing Countries (ANRPC) releases the Monthly NR Statistical Report, December 2022.
Based on the preliminary estimates from Member Governments, the world production of natural rubber (NR) registered 0.1% growth to 1.397 million tons during December 2022, the slowest growth in production of the year. Conversely, the world demand for NR grew at a faster pace at 2.5% to 1.3111 million tons during the same reference period. The physical and futures markets also performed better as rubber prices inched higher than in previous months.
The ups and downs in 2022 from Covid-19 pandemic and geopolitical tension between Russia-Ukraine continued to pose challenges for global economy as we unshed in 2023. Economic slowdowns can be observed in some of the top economies in the beginning of this year. Unsurprisingly, most economists are sharing the views that 2023 will be a more challenging year than 2022 in terms of the world economy and trade due to the tightening of monetary policy by most central banks, rising cost of living and debt distress, disruptions caused by geopolitical conflicts, and a potential risk of another wave of Covid-19 pandemic. As a result, the World Bank has further slashed its estimate for world economic growth to 1.7% for 2023 as compared to the 3% released 6 months ago.
As highlighted in the “Message from Secretary General” on our ANRPC homepage, however, I remained hopeful that the steady growth in electric vehicle, healthcare, buildings and construction sectors will continue to drive the demand for natural rubber in the years to come. And I look forward to riding through these challenges with our Member Governments and stakeholders of our rubber industry toward the light at the end of the tunnel.
Meanwhile, on a sidenote, I would like to take this opportunity to wish all who are celebrating the Lunar New Year a prosperous year ahead and a joyful reunion with your family members.
For renewal or new subscription for the year 2023, subscribers may contact the Secretariat for further details at firstname.lastname@example.org.
TOH, Heng Guan