Global Natural Rubber (NR) production, including non-Association of Natural Rubber Producing Countries (ANRPC) member countries, amounts to 8.038 million tonnes, up by 5.2 per cent, during the first eight months of 2017. This is based on actual figures up to May 2017 and preliminary estimates for June 2017 to August 2017, said the latest Natural Rubber Trends and Statistics report by ANRPC in August 2017.
During the period from January to August 2017, most ANPRC member countries have recorded positive growth in production except Thailand. Thailand has registered a negative growth in production at 1.1 per cent, amounting to 2.641 million tonnes during this period compared to 2.670 million tonnes in the same period in 2016, the report said.
“Apart from the market fundamentals in NR, physical NR prices were also influenced by other external factors such as development in the oil industry, inventories in regional futures markets, strength in currency and recent geopolitical tensions. Rubber prices have recovered from the dip in late July 2017 and demonstrated an upward trend across key physical market in August 2017. Many factors have played an influential role in the price recovery, other than the favourable market fundamental where supply deficit amounted o 504,000 tonnes in August 2017,” Dr. Nguyen Ngoc Bich, Secretary-General, ANRPC remarked.
Despite China’s revision of its provisional production upward by 5,000 tonnes to 832,000 tonnes for 2017, India and Cambodia have revised their provisional production downward by 20,000 tonnes and 3,000 tonnes respectively during January-August 2017 period. The revised outlook of world supply is anticipated at 12.863 million tonnes of NR during the year 2017 compared to 12.881 million tonnes of NR reported last month.
World production, including non-ANRPC member countries, during January to November 2017 is anticipated at 11.705 million tonnes, up five per cent from 11.151 million tonnes reported during the same period a year ago, the report further said.
No comments:
Post a Comment