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By TT News| Mar 10, 2021

ANRPC Sees Recovery In NR Consumption in Feb

Association of Natural Rubber Producing Countries (ANRPC) said, based on the preliminary estimates, the outlook of world production of natural rubber (NR) is likely to fall 12.4%, year-on-year, to 897,000 tonnes in February 2021. However, the global NR consumption is estimated to recover at 47.5%, year-on-year, to 1.103 million tonnes during the same month too.

“As a result of this favourable market fundamental amid the seasonal wintering in most NR producing countries, it has supported the upward trend observed in average monthly prices across key physical markets during the reference month,” said ANRPC.

Crude oil prices in February 2021 which posted a 13.7% growth averaged at US$62.28 per barrel while comparing to January 2021. In the block rubber market, the average price of SMR-20 and STR-20 have recorded a 6.1% and 4.7% growth, respectively. The similar observation shared in the rubber sheets market where average price of RSS-3 in Bangkok recorded an increase of 3.6% to US$2.25 per kg and RSS-4 at Kottayam market averaged at US$2.14 per kg in February 2021 against last month.    

“Despite the global economic recovery is driven by the positive economic data in US and China, there are other efforts from regional economic cooperation which may boost the economic activities within the region such as Association of Southeast Asian Nations (ASEAN) is considering of digital vaccine passport while European Union proposed to have Digital Green Pass to accommodate the safety movement around or within the region, respectively. However, people are still worrying about the efficacy of coronavirus vaccines to the fast-spreading variants such as United Kingdom, South African and Brazil to achieve herd immunity so that the world can revert to normalcy,” said the association.

 

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