Kuala Lumpur – World production of natural rubber (NR) fell 10.1% year-on-year to 1.08 million tonnes in January, according to the Association of Natural Rubber Producing Countries (ANRPC).
Tropical storms in southern Thailand contributed to the decline, the association said in its latest market trends report published 2 April.
Demand for natural rubber rose 1.3% to 1.15 million tonnes during January, secretary-general Nguyen Ngoc Bich also noted in the update.
Favourable market fundamentals and a price-rally in the crude oil market supported the recovery of NR prices in January, said the ANRPC leader.
Progress in trade talks between the US and China and a decision by OPEC to cut production helped prices “stay firmer” over the period, he added.