Natural Rubber Trends released by ANRPC, March 2021
The Association of Natural Rubber Producing Countries (ANRPC) released Natural Rubber Trends for March 2021.
According to the Association’s the global outlook for natural rubber (NR) supply is estimated to recover at 1.3%, year-on-year, to 910,000 tons in March 2021, while the global consumption projected 1.234 million tons, up 7.4% during the same reference period. ANRPC says that the favorable market fundamental in NR sector have supported the price growth in futures and physical markets of NR, except Shanghai Futures Exchange.
ANRPC pinpoints that despite the physical natural rubber markets posted a downward trend in price for the month of March 2021, the average prices of rubber have gained further from February 2021 with positive growth ranges 21.4% in STR-20 for Bangkok, 4.1% in SMR-20 for Kuala Lumpur, 3.2% in RSS-3 for Bangkok and 6.7% in RSS-4 for Kottayam market.
The Association says that amid the worries over resurgence of Covid-19 cases in India and European countries which are alarming to the global health concerns and resuming of economic activities for global recovery, International Monetary Fund (IMF) and Organisation for Economic Co-operation and Development (OECD) have enhanced the projected global growth for 2021 along with the two gigantic economies, China and US in leading the world over this post-pandemic recovery.
Original article by ANRPC.