21 Nov 2021
Based on the preliminary estimates updated by member governments, the outlook on global production of natural rubber (NR) anticipates growing by 1.8% to 13.836 million tonnes: while global demand projects a growth of 8.3% to 14.028 million tonnes during 2021
The Association of Natural Rubber Producing Countries (ANRPC) releases the Natural Rubber Trends, October 2021.
Based on the preliminary estimates updated by member governments, the outlook on global production of natural rubber (NR) anticipates growing by 1.8% to 13.836 million tonnes: while global demand projects a growth of 8.3% to 14.028 million tonnes during 2021. As a result, this may pose some positive sentiments in the NR market based on the strong fundamental.
The NR prices were mixed across physical and futures market during October 2021. Prices of NR futures have registered recovery from a fall last month across key markets namely Shanghai Futures Exchange, Singapore Exchange, and Osaka Exchange with growth at 9.0%, 6.1% and 10.3% respectively during October 2021. On the contrary, prices of physical markets were down in Thailand and India, except Malaysia have recorded an improvement of average FOB price at 6.7% on SMR-20 and 5.0% on Latex-in-bulk during same reference period.
In the recent outlook presented by International Monetary Fund (IMF), the global economy is projected with lower growth by 0.1% to 5.9% during 2021. This is resulted from its projection over the worsening of pandemic dynamic as supply disruption, health concern and prices pressure. It’s believed that the global economy prospect may be enhanced through regional efforts on common interests. In addition, some countries have resumed its tourism activities by introducing vaccinated travel lanes (VTL) which may boost the post-pandemic economy recovery and bringing multiplier effects in other related economic activities, especially country which highly dependent on tourism for their economy.
The incessant support and cooperation extended by the esteemed users, statistical correspondents, and stakeholders are once again gratefully acknowledged.
Mr. R. B. Premadasa