DOSM: MALAYSIA'S NATURAL RUBBER PRODUCTION UP 0.6% IN OCTOBER

Malaysia's natural rubber (NR) production increased by 0.6% to 32,944 tonnes in October 2023 from 32,757 tonnes in September 2023, said the Department of Statistics Malaysia (DoSM).

Similarly, chief statistician Datuk Seri Dr Mohd Uzir Mahidin said year-on-year (y-o-y), NR production increased by 3.6% from 31,795 tonnes in October 2022.

In a statement, he said NR production in October 2023 was mainly contributed by the smallholders sector (84.2%) as compared to the estates sector (15.8%).

“Total NR stocks in October 2023 decreased by 0.4% to 152,396 tonnes as compared to 153,011 tonnes in September 2023.

“Rubber processors factory contributed 88.7% of the stocks followed by rubber consumers factory (11.2%) and rubber estates (0.1%),” he said.

Meanwhile, Mohd Uzir said exports of Malaysia's NR decreased 1.0% month-on-month to 56,460 tonnes in October 2023 against 57,028 tonnes in September 2023.

The chief statistician said China remained the main destination for NR exports, which accounted for 58.9% of total exports in October 2023, followed by Germany (8.5%), Iran (3.5%), Portugal (2.0%) and Turkiye (1.8%).

“The export performance was contributed by NR-based products such as gloves, tyres, tubes, rubber threads and condoms.

“Gloves were the main exports of rubber-based products with a value of RM1.0 billion in October 2023, a decrease of 2.0% as compared to RM1.02 billion in September 2023,” he said.

According to DoSM, analysis of the average monthly price showed that concentrated latex recorded an increase of 10.6% to 532.20 sen per kilogramme (kg) in October 2023 from 481.08 sen per kg in September 2023, while scrap rubber increased by 4.4% to 548.84 sen per kg in October 2023 from 525.59 sen per kg in the previous month.

It said prices for all Standard Malaysian Rubber (SMR) increased between 3.2% to 10.5%.

The World Bank Commodity Price Data reported that the prices for TSR 20 (Technically Specified Rubber) had increased 2.1% to US$1.45 a kg from US$1.42 a kg, and SGP/MYS (Singapore/Malaysia) increased 3.4% to US$1.61 a kg from US$1.55 a kg.

According to the Malaysia Rubber Board Digest in October 2023, the Kuala Lumpur rubber market was generally mixed in October, with the price of SMR 20 and Concentrated Latex moving upwards, supported by favourable market fundamentals, especially tighter rubber supply due to wet weather in major rubber-producing countries.