Kuala Lumpur – Natural rubber prices trended “flat” in November despite rising crude oil prices and disruption for growers, the Association of Natural Rubber Producing Countries (ANRPC) has reported.
The continuing, low level of pricing reflected a significant imbalance between supply and demand for the commodity, the latest data from the association indicates.
During the first 11 months of 2017, global NR supply rose 4.7% year-on-year to reach 11.676 million tonnes, according to ANRPC’s latest Natural Rubber Trends & Statistics.
Over the same period, demand for NR amounted to 11.804 million tonnes, up just 1.2% on a year-on-year basis, added a review by Dr. Nguyen Ngoc Bich, ANRPC secretary general.
ANRPC went on to note the impact of typhoon Damrey, which damaged about 40,000 ha of crops in central and southern Vietnam, including rubber plantations.
Southern Thailand, a major NR producing region, was also hit by flash floods as a result of the typhoon, according to the secretary general’s review.
ANRPC ‘s Natural Rubber Trends and Statistics report provides figures for NR supply and demand, across all association member countries.