23 Dec 2022
Global natural rubber output up 2.7%, while consumption rose by just 0.6%
Kuala Lumpur - In November 2022, global production of natural rubber grew 2.7% year on year in November, to 1.426 million tons, the Association of Natural Rubber Producing Countries (ANRPC) has reported.
Demand for the commodity, meanwhile, increased by 0.6% to reach a worldwide estimate of 1.301 million tons, ANRPC’s monthly statistical report for November also shows.
In the physical rubber markets, prices for most types of rubber ”inched lower” last month, with the exception latex-in-bulk in Kuala Lumpur, noted the review issued 20 Dec.
Daily prices for latex-in-bulk averaged around $1.04 per kg in November 2022, up 3% from the previous month, according to ANRPC.
The industry body went on to note a recovery in pricing on the Shanghai Futures Market, as Covid-19 measures in China eased during late November 2022.
“Trading activities also increasing as the cyclical year-end demand before Lunar New Year holidays,” the ANRPC report further stated.
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