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Stats Dept: Malaysia’s March 2024 natural rubber output down 9.2pc

Stats Dept: Malaysia’s March 2024 natural rubber output down 9.2pc

Malaysia’s natural rubber (NR) production fell by 9.2 per cent to 26,966 tonnes in March 2024 against 29,691 tonnes in February, said the Department of Statistics Malaysia (DOSM).

Chief statistician Datuk Seri Mohd Uzir Mahidin said production decreased by 0.8 per cent year-on-year from 27,188 tonnes in March 2023

“NR’s production in March 2024 was mainly contributed by the smallholders sector (88.5 per cent) as compared to the estates sector (11.5 per cent),” he said in a statement today.

NR’s total stocks in March 2024 decreased by 3.3 per cent to 222,455 tonnes from 229,940 tonnes in February 2024.

DOSM said the rubber processors factory contributed 92.4 per cent of the stocks followed by the rubber consumers factory (7.5 per cent) and rubber estates (0.1 per cent).

Meanwhile, the exports of Malaysia’s NR amounted to 58,965 tonnes in March 2024, up 7.0 per cent, as against February 2024’s 55,083 tonnes.

“China remained as the main destination for NR exports which accounted for 48.9 per cent of total exports in March 2024, followed by Germany (9.3 per cent), the United Arab Emirates (9.2 per cent), India (6.9 per cent) and Pakistan (4.5 per cent).

“Gloves, tyres, tubes and rubber thread contributed to exports. Gloves were the main exports of rubber-based products valued at RM1.14 billion in March 2024, an increase of 3.9 per cent as compared to RM1.10 billion in February 2024,” it said.

According to the Malaysia Rubber Board Digest published in March 2024, the Kuala Lumpur rubber market ruled mixed in March when Standard Malaysian Rubber 20 (SMR 20) recorded a new high since April 2017 on March 20, 2024, at 805.00 sen per kilogramme before easing towards the end of the month.

“The natural rubber market is decreasing with the expected tight NR supply owing to bad weather conditions and wintering season.

“Meanwhile, persistent Chinese stimulus measures and improved car sales in China contributed by electronic vehicles also gave support to market sentiment,” DOSM said.

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