GLOBAL NATURAL RUBBER OUTLOOK ESTIMATED TO RECOVER 1.3 PCT Y-O-Y IN MARCH 2021
KUALA LUMPUR, April 13 -- The global outlook on the natural rubber (NR) supply is estimated to have recovered by 1.3 per cent year-on-year to 910,000 tonnes in March 2021.
Meanwhile, global consumption is projected to have increased by 7.4 per cent to 1.23 million tonnes during the month, said the Association of Natural Rubber Producing Countries (ANRPC) in a statement today.
Citing the association’s Natural Rubber Trends report released recently, secretary-general R.B Premadasa said the favourable market fundamentals in the NR sector supported its price growth in the futures and physical markets, except in the Shanghai Futures Exchange.
He said although the physical NR markets were on a downtrend in terms of prices in March 2021, the average prices of rubber have increased compared to February 2021, with growth ranging from 21.4 per cent in STR-20 for Bangkok, 4.1 per cent in SMR-20 for Kuala Lumpur, 3.2 per cent in RSS-3 for Bangkok and 6.7 per cent in RSS-4 for the Kottayam market.
Premadasa said despite concerns over the resurgence in COVID-19 cases in India and European countries, the International Monetary Fund and Organisation for Economic Co-operation and Development have enhanced the projected global growth for 2021, with China and the United States leading the post-pandemic recovery.
-- BERNAMA
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