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BUSINESS

DoSM: Natural rubber production 6.3 per cent lower in May 2022

15/07/2022 12:25 PM

KUALA LUMPUR, July 15 (Bernama) -- Malaysia’s natural rubber (NR) production decreased by 6.3 per cent to 21,073 tonnes in May 2022 compared with 22,498 tonnes in April, said the Department of Statistics Malaysia (DoSM).

In a statement, the department said the NR production eased by 25.2 per cent year-on-year from 28,164 tonnes in May 2021.

Chief statistician Datuk Seri Dr Mohd Uzir Mahidin said the production of the commodity in May 2022 was mainly contributed by smallholders sector (83.3 per cent) compared to estates sector (16.7 per cent).

Total stocks of natural rubber in May 2022 decreased by 2.8 per cent to 289,430 tonnes compared to 297,654 tonnes in April 2022.

“Rubber processors factory contributed 92.7 per cent of the stocks followed by rubber consumers factory (7.2 per cent) and rubber estates (0.1 per cent),” he said.

Meanwhile, Mohd Uzir said exports of Malaysia's natural rubber amounted to 43,197 tonnes in May 2022, decreased 26.3 per cent against 58,596 tonnes in April 2022.

“China remained as the main destination for natural rubber exports which accounted for 44.6 per cent of total exports in May 2022, followed by the United States (12.4 per cent), Turkey (4.5 per cent), Brazil (4.4 per cent) and Finland (3.7 per cent).

He said the exports performance was contributed by natural rubber-based products such as gloves, tyres, tubes, rubber threads and condoms.

Gloves were the main exports of rubber-based products with a value of RM1.6 billion in May 2022, a decrease of 30 per cent compared to RM2.2 billion recorded in April 2022.

Mohd Uzir said global rubber market sentiment was supported by tighter natural rubber supply outlook, further economic stimulus in China and optimism surrounding the US-China trade front.

“Further gains were weighed by inflation anxieties, heightened uncertainty regarding global economic slowdown from China’s zero COVID-19 policy, and persistent Russia-Ukraine conflict as reported in the Malaysian Rubber Board Digest published in May 2022,” he added.

-- BERNAMA

 


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