By TT News|Aug 20, 2021

WRS 2021 Explores New Opportunities For Sustainable Growth

Due to the Covid-19 pandemic, the global economy has witnessed one of the worst economic crises in history. It has exposed the weakness of our economic and social systems in many countries and rolled back decades of progress on poverty reduction, exposing social and economic equalities. The rubber economy has not been an exception. Earlier in 2020, a steep decline in prices affected both natural and synthetic rubber, with SGX TSR 20 prices declining by 26 percent during the lockdown period (April-June 2020, compared to January 2020). The closures of manufacturing activities worldwide and disruptions in the supply chain also prompted a sharp drop in rubber imports and consumption. Furthermore, the development of new mobility models, digitalisation, climate change and the development of the ‘green economy’ will be the driving forces that will determine the future of this sector. 

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