MALAYSIA'S NATURAL RUBBER PRODUCTION UP 20.1 PCT IN MAY - DOSM 

KUALA LUMPUR, July 12 (Bernama) -- Malaysia's natural rubber (NR) production rose 20.1 per cent month-on-month to 25,608 tonnes in May 2024 from 21,325 tonnes in April 2024, according to the Department of Statistics Malaysia (DoSM). 

Year-on-year, NR production increased by 6.1 per cent from 24,126 tonnes in May 2023. 

“NR production in May 2024 for Malaysia was mainly contributed by the smallholders sector (88.2 per cent) as compared to the estates sector (11.8 per cent),” chief statistician Datuk Seri Dr Mohd Uzir Mahidin said in a statement today. 

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Citing the Malaysia Rubber Board Digest published in May 2024, DoSM said the Kuala Lumpur rubber market started with a bullish tone, with Standard Malaysian Rubber (SMR) 20 surging to a new high at 840.00 sen per kilogramme (kg), the highest since April 2017 before fluctuating towards month end.

“Generally, the market sentiment was boosted by firmer advice in regional rubber futures markets amid concerns over tight global raw materials supply in major producing countries due to heavy rains. 

“The market sentiment was also supported by China’s strong car sales and the latest stimulus measures announced to shore up the economy,” it said. 

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In May 2024, the average monthly price for concentrated latex improved 1.2 per cent to 742.36 sen per kg from 733.58 sen per kg in April 2024, while scrap went up 2.7 per cent to 657.16 sen per kg versus 639.62 sen per kg in the previous month.

Prices for all SMR increased between 1.2 per cent and 3.2 per cent in May 2024 compared with the previous month. 

Meanwhile, DoSM said total NR stock grew 16.9 per cent to 175,368  tonnes in May 2024 versus 211,119 tonnes in April 2024, with rubber processors factory contributing 91.4 per cent of the stocks, followed by rubber consumers factory (8.5 per cent) and rubber estates (0.1 per cent).

It said NR exports rose 6.3 per cent to 50,796 tonnes in May 2024 from 47,795 tonnes in the previous month. 

“China remained as the main destination for NR exports which accounted for 39.2 per cent of total exports in May 2024, followed by India (10.6 per cent), Germany (9.4 per cent), the United Arab Emirates (6.5 per cent) and the United States (4.6 per cent),” it said. 

It added that gloves were the main exports of rubber-based products with a value of RM1.25 billion in May 2024, an increase of 14.1 per cent as compared to RM1.09 billion in April 2024. 

-- BERNAMA