ANRPC spots 5.2% annual growth in global natural rubber demand
The Association of Natural Rubber Producing Countries (ANRPC) has released the Natural Rubber Trends & Statistics for October 2018.
According to ANRPC, the world demand of natural rubber (NR) from January 2018 to October 2018 recorded at 11.696 million tonnes, an increase of 5.2% from the same corresponding period a year earlier. While, the world production charted a 5.5% growth to 11.468 million tonnes. This resulted to a short of 228,000 tonnes of NR during the reference period.
During early October 2018, the International Monetary Fund (IMF) has revised its projection for global growth for 2019 by 0.2% lower to 3.7%, in view of the negative effects of the trade measures in the past 6 months from its World Economic Outlook April release. Commodities market, such as oil and rubber markets, has been volatile and bearish during October 2018. The analysis and data given in ANRPC’s publication could help closely understand the situation in the market and the future scenario.
Article by ANRPC.