MALAYSIA'S NATURAL RUBBER PRODUCTION RISES 9.3% YOY IN NOVEMBER 2023 - DOSM

Natural rubber production rose by 9.3% year-on-year in November 2023 to 30,669 tonnes, contributed by smallholders compared with the estates sector, said the Department of Statistics Malaysia (DoSM).

Chief statistician Datuk Seri Dr Mohd Uzir Mahidin said in a statement that the smallholders sector contributed 85.3% versus the estates sector's 14.7%.

On a month-on-month basis, November 2023 natural rubber production was down versus the prior month's 32,944 tonnes.

Nevertheless, the stock of natural rubber in November 2023 increased by 13.2% to 172,335 tonnes compared to 152,196 tonnes in October 2023, the statement said.

"Rubber processor factories contributed 89.8% of the stocks followed by rubber consumers factories (10.1%) and rubber estates (0.1%),” Mohd Uzir said.

According to November 2023's Malaysia Rubber Board Digest, the Kuala Lumpur rubber market saw a mixed trend, the statement said.

Overall, the positive sentiment was contributed by China's stimulus measures and its positive economic target for 2024 amid the prospect of a tight natural rubber supply in Thailand, a major producer.

Meanwhile, Malaysia's natural rubber exports amounted to 51,437 tonnes in November 2023, an 8.9% decrease against October 2023's 56,460 tonnes.

China remained the main destination for natural rubber exports, accounting for 48.3% of total exports in November 2023 followed by Germany (8.9%), Iran (5.7%), the United States (4.0%) and Pakistan (2.8%).

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

Gloves were the main exports valued at RM1.01 billion in November 2023, an increase of 1.0% versus October 2023's RM1.0 billion.