Coronavirus pandemic to affect global natural rubber consumption
The Association of Natural Rubber Producing Countries (ANRPC) recently released a report, which sheds light on the current situation and provides forecast for natural rubber (NR) markets. The association reports that the world produced 13.804 million tons of natural rubber in 2019, 1.4% down compared to the annual production volume in 2018, as per the updated estimates available from individual NR producing countries. Whereas the production was anticipated to increase 2.7% to 14.177 million tons in 2020, according to the revised outlook, it witnessed an annualized 5.2% drop in world production during the first two month of the year.