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The Association of Natural Rubber Producing Countries (ANRPC) claims that the growth was driven by the recovery in crude oil prices, mid-term supply concerns, new expectations of a faster-paced global economic recovery led by the U.S. All these factors improve outlook for natural rubber demand. According to a statement from ANRPC the crude oil price recovery impact was caused by OPEC’s deal on the 30th of November 2016, which stipulates cut in output by 1.2 million barrels per day during the 1st half of 2017.

By mid-May all price-gains made earlier in the second quarter in the Natural Rubber markets, have been completely diminished. Since then some significant hikes have been recorded in Thailand, Japan, China and Malaysia. However, in overall markets are still far behind the peaks reached in April, which suggests that the attempt by the producer-country to rebalance the market is losing strength.