The production of natural rubber (NR) increased 5.4% in October 2020 to 48,663 tonnes from 46,187 tonnes in the previous month.
Compared with the same month in the previous year, it rose 0.3%, said the Department of Statistics Malaysia (DOSM) in its monthly rubber statistics report for October 2020.
“Exports of Malaysia's NR amounted to 54,492 tonnes in October 2020, an increase of 11.8% against 48,720 tonnes in September 2020.
“China remained as the main destination for NR exports, with 57% of total exports in October 2020, followed by Germany (11.7%), Finland (3.7%), Iran (3.3%) and Brazil (2.8%),” said chief statistician Datuk Seri Dr Mohd Uzir Mahidin.
He said rubber gloves were the main export item with the export value increasing by 14.6% to RM4.4 billion in October 2020 from RM3.8 billion in September 2020, with the US, Germany and UK continuing to be among the highest rubber glove export destinations.
The stocks of NR improved 0.6% in October 2020 to 256,724 tonnes compared with 255,089 tonnes in September 2020.
“The average price of Standard Malaysian Rubber 20 recorded the highest price in October 2020 with an increase to 621.76 sen per kilogramme (kg) against 558.50 sen per kg in September 2020.
“A similar trend was also observed for the average price of latex concentrate which expanded to 576.14 sen per kg in October 2020 from 484.57 sen per kg in September 2020,” he said.
The DOSM also reported that domestic consumption of NR in October 2020 was 48,518 tonnes, an increase of 6.3% versus the previous month.
The rubber gloves industry continued to dominate the use of NR natural with 36,901 tonnes or 76.1% of the total domestic consumption.
Source: ANRPC, The Edge Markets, <click here>