ANRPC releases Natural Rubber Trends for May 2021
The Association of Natural Rubber Producing Countries (ANRPC) released the Natural Rubber Trends, May 2021. In the report, ANRPC says the world has changed after the pandemic happened. Most countries are still battling with Covid-19 and its mutation variants, millions of lives taken by the pandemic and reshuffled the ordinance of people and economy under a new norm of standard operation procedures during this pandemic era.
The Association highlights that based on the preliminary estimates up to May 2021, the world production of natural rubber (NR) in 2021 is anticipated to grow at 5.8%, year-on-year, to 13.812 million tons; while world demand of NR is estimated at 6.7% growth to 13.679 million tons in the same reference period. This revised outlook has projected a relatively balanced global NR market for the prevailing year.
To read more about the trends in natural rubber prices, please proceed to ANRPC.