17 Sep 2024
China remained main destination for NR products accounting for 30% of total exports
Kuala Lumpur – Malaysia's natural rubber (NR) production increased 33% to just under 38,000 tonnes in July, up from 28,533 tonnes reported for the same month last year.
Month-on-month, production grew 27%, up from 29,881 tonnes in June, the Malaysian ministry of economy announced 11 Sept.
Total stocks of natural rubber in July decreased by 7.6% month-on-month to 148,096 tonnes.
Exports grew 21% compared to June to 48,199 tonnes, with China remaining the main destination and accounting for 30% of total exports.
The UAE (12.3%), India (11.6%), Germany (10.6%) and the US (6.7%) rounded out the top five export destinations.
Analysis of the average monthly price showed that concentrated latex recorded a decrease of 16.5% to 647.23 sen/kg in July, while ‘scrap rubber’ dropped 5.2% to 670.80 sen/kg.
Prices for all standard Malaysian rubber (SMR) decreased between 4.6% to 16.4% the official data showed.
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