DOSM: Malaysia's natural rubber production down by 4.5 percent in July

08 Sep 2023 02:31pm
Picture for illustrative purposes - FILE PIX
Picture for illustrative purposes - FILE PIX
KUALA LUMPUR - Malaysia’s natural rubber (NR) production decreased by 4.5 per cent to 28,533 tonnes in July 2023 from 29,867 tonnes in June 2023, said the Department of Statistics Malaysia (DoSM).

NR production was also down by 24.6 per cent year-on-year from 37,843 tonnes in July 2022, said chief statistician Datuk Sri Dr Mohd Uzir Mahidin.

He said NR’s total stocks in July 2023 reduced by 9.9 per cent to 143,840 tonnes compared to 159,718 tonnes in June 2023.

"Rubber processors factory contributed 87.9 per cent of the stocks followed by rubber consumers factory (11.9 per cent) and rubber estates (0.2 per cent),” Mohd Uzir said in a statement today.

Meanwhile, NR exports amounted to 51,785 tonnes in July 2023, an increase of 6.0 per cent, as against 48,848 tonnes in June 2023, contributed by NR-based products such as gloves, tyres, tubes, rubber

threads and condoms.

China remained the main destination for NR exports which accounted for 42.8 per cent of total exports in July 2023, followed by Germany (9.5 per cent), Pakistan (4.4 per cent), the United States (3.3 per cent) and Brazil (2.2 per cent).

The department also said that an analysis of the average monthly price showed that concentrated latex recorded a 1.5 per cent month-on-month decline to 490.18 sen per kilogramme (kg) in July from 497.70 sen per kg in June.

Meanwhile, scrap rubber eased by 2.2 per cent to 471.14 sen per kg from 481.91 sen per kg.
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"Prices for all Standard Malaysian Rubber (SMR) shrank between 1.5 per cent and 2.3 per cent,” DoSM said.

According to the July 2023 issue of the Malaysia Rubber Board Digest, the rubber market in Kuala Lumpur experienced a varied trend during the review period, in line with the rubber futures markets in the region.

This was due to concerns about the global economic slowdown, despite the positive announcement from the World Bank.

The markets also reacted negatively to the steep strengthening of the ringgit coupled with an increase in local natural rubber production - BERNAMA