ANRPC releases Natural Rubber Trends January 2021
ANRPC says the outlook for world production of natural rubber (NR) is estimated to decline by 7.7%, year-on-year, to 12.782 million tons for 2020. The improved outlook for 2020 compared to the previous outlook published in last issue, is resulted from a better-than-expected production estimated from Thailand, India and Cambodia during the year. While the world demand for NR clocked at 12.827 million tons during 2020, contracted at 6.9%, year-on-year.
The NR markets have been volatile during January 2021 despite a strong upward trend observed in crude oil market. The average NR prices of SMR-20 improved by 0.6% to US$1.58 per kg in January 2021 as compared to last month. While prices of STR-20 averaged at US$1.58 per kg in January 2021, fell US$0.02 per kg against US$1.60 per kg recorded in December 2020. In rubber sheets market, prices of RSS-3 in Bangkok and RSS-4 Kottayam have registered a fall in price by 6.3% and 3.6% during the same reference period.
ANRPC says the world has started off with positive note this year on the upward revision forecasts released by International Monetary Fund (IMF) recently for 2021 at 5.5%. The stronger growth anticipated by IMF may boost the market confidence over the post-pandemic recovery. In addition to the positive sentiment in crude oil market may be advantageous to the commodities market.
Original press release by ANRPC.