KUALA LUMPUR, Malaysia (Dec. 16, 2016) — The supply of natural rubber from the countries of the Association of Natural Rubber Producing Countries (ANRPC) is expected to grow marginally at 0.1% to 11.1 million metric tons during 2016, the trade group said recently.
NR consumption by the member states, by contrast, is anticipated to grow 4.1 percent this year to 8 million tons. Consumption by ANRPC member states — Cambodia, China, India, Indonesia, Malaysia, Papua New Guinea, Philippines, Singapore, Sri Lanka, Thailand and Vietnam —accounts for 65 percent of global demand, the association added.
Pricewise, the uptrend momentum in October improved in November across all major physical markets, according to the group's report.
Overall, the global NR industry is being driven by “favorable supply-demand fundamentals,” the ANRPC said.
Among the contributing factors to the price rally, the ANRPC said, were favorable supply-demand fundamentals, weak Japanese yen, rebound in crude oil prices and an improved economic outlook in the US.