Malaysian NR production down 10% in 2008

ERJ staff report (DS)

Kuala Lumpur -- Malaysia's production of natural rubber in 2008 was 10.1 percent down on the previous year, at 1.078 million tonnes. Production in December 2008 was 62.1 ktonne 32 percent down on December 2007, and 11.6 percent down on the previous month.

Total exports for the year amounted to 916 ktonnes, down from 1.018 million tonnes in 2007. Exports for December were 34.9 ktonnes, down by almost half from December 2007 and down by 16.8 percent compared with November. During the period January - December 2008, exports of natural rubber was mainly to the China 300,678 tonnes, Germany 123,302 tonnes, U.S.A. 53,541 tonnes, Korea 49,442 tonnes, Iran 40,180 tonnes, Brazil 33,624 tonnes, and France 31,631 tonnes. Total exports to these seven countries accounted for 69.0% of the overall NR exports in the period January to December 2008 .

Imports also fell in December, roughly in proportion to exports. Malaysia imported 35.5 ktonne of rubber in December 2008, down by half from the same period a year ago and down by 24.2 percent on the November figure. Thailand contributed 76.7 percent of all imports.

Domestic consumption of NR in December 2008 was 37,506 tonnes. At the end of December 2008, NR stock held was 156,306 tonnes, increased of 5.3% compared to the level of stocks held in November 2008. Stocks increased by 2.0% compared to that of the same month last year.

In December 2008, the average monthly price of latex concentrate was 334.65 cent, a decreased of 25.3% compared to November 2008. The average price of latex in December 2008 was 37.0% lower when compared with December 2007.

The price of S.M.R. 20 in December 2008 was 427.13 cents, a decreased of 28.6% compared to November 2008. When compared to the same month last year, the price decreased by 47.0%.

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Press release from Malaysian Statistics department