NR prices recover in August, deficit continues

Kuala Lumpur – Natural rubber prices recovered from a dip in late July, thanks to favourable market fundamentals and supply deficit, the Association of Natural Rubber Producing Countries (ANRPC) has reported.

In its latest release on trends and statistics in August, the association said global NR production reached 8.038 million tonnes within the first eight months of the year. Consumption was estimated at 8.544 million tonnes.

According to ANRPC, physical prices were also influenced by other external factors such as development in the oil industry, inventories in regional futures markets, currency moves and recent geopolitical tensions.

ANRPC is organising its 10th ANRPC annual rubber conference on 23 Oct with the theme of “reengineering value chain for revitalising production sector”.

The event, which will focus on supply chain efficiency, will be held in Ho Chi Minh City.