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DOSM: Natural rubber production eased to 30,342 tonnes in Dec 2023

09 Feb 2024, 13:28 PM SGT

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KUALA LUMPUR (Feb 9): Malaysia’s natural rubber (NR) output eased 1.1% in December 2023 to 30,342 tonnes from 30,669 tonnes in November 2023, according to the Department of Statistics Malaysia (DOSM).

Year-on-year, NR production was 0.7% lower compared with 30,556 tonnes in December 2022.

Chief statistician Datuk Seri Dr Mohd Uzir Mahidin said NR production in December 2023 was mainly contributed by the smallholders sector (88%) compared to the estates sector (12%).

“Total NR stocks in December 2023 increased by 11% to 191,320 tonnes as compared to 172,307 tonnes in November 2023.

“Rubber processors factory contributed 91.1% of the stocks followed by rubber consumers factory (8.9%) and rubber estates (0.1%),” he said in a statement on Friday.

Mohd Uzir noted that exports of Malaysia’s NR amounted to 45,591 tonnes in December 2023, a decrease of 11.7 % versus November 2023’s 51,643 tonnes.

He said China remained the main destination for NR exports, which accounted for 41.5% of total exports in December 2023, followed by Germany (12.7%), Iran (3.9%), the United States (3.8%) and Pakistan (2.8%).

“Export performance was contributed by NR-based products such as gloves, tyres, tubes, rubber thread and condoms.

“Gloves were the main export of rubber-based products with a value of RM0.9 billion in December 2023, a decrease of 5.9% as compared to November 2023 (RM1.0 billion),” he said.

According to DOSM, the average monthly price of concentrated latex recorded a decrease of 2.2% in December 2023 to 537.63 sen per kilogramme (kg) from 549.67 sen per kg in November 2023, while scrap rubber was also down by 3.4% to 542.89 sen per kg in the month compared to 562.24 sen per kg in the preceding month.

It added that prices for all Standard Malaysian Rubber (SMR) decreased between 2.1% and 2.2%.

The department said fourth quarter (4Q2023) performance saw NR production increase by 1.5% to 93,956 tonnes as compared to 92,599 tonnes in 3Q2023.

Meanwhile, annual performance of the country’s NR production in 4Q2023 saw a 3.9% increase compared to the 4Q2022 (90,399 tonnes).

According to the Malaysia Rubber Board Digest, the Kuala Lumpur rubber market witnessed a mixed trend, with the price of SMR 20 closing higher on the last trading day of 2023, supported by optimism over more stimulus measures announced by China coupled with an expectation that the US Federal Reserve would start cutting interest rates in 2024.

Source: https://theedgemalaysia.com