8 Mar 2021
Based on the preliminary estimates, the outlook of world production of natural rubber (NR) is likely to fall 12.4%, year-on-year, to 897,000 tonnes in February 2021.
The Association of Natural Rubber Producing Countries (ANRPC) releases its monthly publication, Natural Rubber Trends February 2021.
Based on the preliminary estimates, the outlook of world production of natural rubber (NR) is likely to fall 12.4%, year-on-year, to 897,000 tonnes in February 2021. While the world consumption of natural rubber is estimated to recover at 47.5%, year-on-year, to 1.103 million tonnes during the same month too. As a result of this favourable market fundamental amid the seasonal wintering in most NR producing countries, it has supported the upward trend observed in average monthly prices across key physical markets during the reference month.
Apart from the favourable market fundamental in the NR, the rubber prices also tracked the similar trend of crude oil prices in February 2021 which posted a 13.7% growth averaged at US$62.28 per barrel while comparing to January 2021. In the block rubber market, the average price of SMR-20 and STR-20 have recorded a 6.1% and 4.7% growth, respectively. The similar observation shared in the rubber sheets market where average price of RSS-3 in Bangkok recorded an increase of 3.6% to US$2.25 per kg and RSS-4 at Kottayam market averaged at US$2.14 per kg in February 2021 against last month.
Despite the global economic recovery is driven by the positive economic data in US and China, there are other efforts from regional economic cooperation which may boost the economic activities within the region such as Association of Southeast Asian Nations (ASEAN) is considering of digital vaccine passport while European Union proposed to have Digital Green Pass to accommodate the safety movement around or within the region, respectively. However, people are still worrying about the efficacy of coronavirus vaccines to the fast-spreading variants such as United Kingdom, South African and Brasil to achieve herd immunity so that the world can revert to normalcy.
The incessant support and cooperation extended by the esteemed users, statistical correspondents, and stakeholders are once again gratefully acknowledged.
Mr. R. B. Premadasa