During this period of September and October, the snapshot of the recent trend of global natural rubber (NR) market are shown below:
The escalation of geopolitical tensions and adverse weather conditions, particularly during the monsoon season in NR-producing countries, such as Thailand, have played a pivotal role in shaping market sentiment. Increased rainfall, leading to flash floods and forest run-off, particularly in Thailand, has had an adverse impact on rubber production. These factors have driven rubber prices to rebound above US$1.30 per kilogram due to concerns over supply in this period.
Meanwhile, I am happy to share with the readers of this publication that the 13th ANRPC Annual Rubber Conference and the 6th ANRPC Public-Private Meet, hosted by Government of India, in Guwahati, Assam on 9 and 10 October 2023, gave opportunity for meaningful interaction among rubber industry leaders, policy makers and analysts from 10 countries. During this meeting, ANRPC Member Governments endorsed the top 3 initiatives related to sustainability by ANRPC Secretariat as top priorities to be implemented within the year 2023 to 2025. ANRPC Member Governments have also issued a Joint Communiqué on 12 October 2023 in Guwahati to urge the European Union for a fairer treatment towards NR sector in their implementation of the European Union Deforestation-free Regulation (EUDR). Click here for the Joint Communiqué.
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TOH, Heng Guan