Malaysia announces an increase of 28% in natural rubber production

Malaysia’s natural rubber (NR) production rose 28.5 percent to 67,403 tons in October 2017 from 52,472 tons in September, according to the Department of Statistics. In a statement, the department said the smallholding sector was the main contributor to the NR production, accounting for 90 percent. Year-on-year comparisons also showed an increase of 8.3% compared to October 2016, it said. It said the average monthly price of latex concentrate and Standard Malaysian Rubber 20 in October 2017 were 489.36 sen per kilogram (kg) and 601.21 sen per kg, decreased by 11.4 percent and 9.0 percent, respectively, from September 2017. Malaysia’s NR exports grew 4.5 percent to 47,162 metric tons in October compared with September. The five main destinations of the NR exports were China, Germany, U.S., Iran and Republic of Korea. Domestic consumption of NR increased by 2,092 metric tons or 5.2 percent within the same period, while the rubber gloves industry remained the main NR domestic consumer at 72.9 percent. The department said the level of NR stocks at-October increased by 6.5 percent or 12,564 metric tons to 206,593 metric tons compared with the previous month.