ANRPC upgrades forecasts for rubber supply and demand

Kuala Lumpur – Global production of natural rubber (NR) likely fell by 8.9% year-on-year in 2020, having contracted 8.3% to 11.376 million tonnes during the first 11 months, the Association of Natural Rubber Producing Countries estimates.

The full-year forecast – in ANRPC’s Natural Rubber Trends & Statistics December 2020, issued 11 Jan –  represents an 81,000 tonnes upward revision, to 12.678 million tonnes compared to its outlook of a month earlier. 

NR production is expected to recover in January to about 1.192 million tonnes worldwide, against 1.056 million tonnes in January 2020, according to the association’s latest assessment.

World consumption of NR fell 7.9% year-on-year to 11.660 million tonnes during January 2020 to November 2020, though the December figure is likely to recover at 3.6% to 1.167 million tonnes.

ANRPC attributed its revised 2020 outlook to a “marginal increase of 16,000 tonnes to 12.827 million against the outlook reported in the last issue.” 

World consumption, it added, is anticipated to sustain the positive growth in January 2021 at 15.5% to 1.172 million tonnes against 1.015 million tonnes last January.