In the first seven months of this year, global production of natural rubber fell 8.9% year-on-year, while global consumption of natural rubber fell 14% year-on-year.
Global production of natural rubber is expected to be 13.149 million tonnes this year, down 4.9 % from the previous year, just below the output outlook reported in July of 13.195 m tonnes, down 4.5 per cent from the previous year.
Global consumption is project to 12.54 million tonnes this year and decline 8.9% comparing to last year.
In August, the natural rubber market was vibrant. Prices in both the physical and futures markets rose sharply during the month.
In Bangkok, Thailand, the price of RSS3 rubber jumped 24.1% this month, compared with a 14.3% rise in STR20 rubber in Bangkok, a 7.9% rise in SMR20 rubber in Kuala Lumpur and a 4.0% rise in NR latex in Kuala Lumpur.
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