NR production, consumption up in first two months of 2018

Kuala Lumpur – Natural rubber production and consumption registered year-on-year growth in the first two months of the year 2018, according to the Association of Natural Rubber Producing Countries (ANRPC).

Production rose 4.3% to 2.207 million tonnes, while demand grew 7.5% year-on-year to 2.014 million for the period, the ANRPC said 22 March.

During the first two weeks of February, it noted, NR prices across the key physical markets were hit by a fall in crude oil prices, strengthening of the Japanese Yen and global equity-market trends.

“Nevertheless, the NR prices showed [signs] of improvement and posted an upward trend in price towards the end of February 2018,” the association added.

The uptrend, said ANRPC, reflected recovery in both crude-oil prices and global equity markets.

The association went on to predict “slow production of NR” in the coming months due to the seasonal rubber tree ‘leaf-fall period’ in most of member countries.