According to the Association of Natural Rubber Producing Countries (ANRPC), the global consumption for rubber grew 6.6%, on a year-to-year basis, to 10,653 million tonnes from January 2018 to September 2018. Meanwhile, the global production recorded a slower growth at 1.5% to 9,779 million tonnes, on a year-to-year basis. This resulted in a supply deficit of 874,000 tonnes during the same reference period based on these statistics.
The association’s Secretary-General Dr. Nguyen Ngoc Bich said physical rubber prices remain low despite the favourable market fundamental in the NR market. “The high inventory in the Shanghai Rubber Exchange and the warehouses in Qingdao Free Trade zone and other external factors have kept the sentiments down in NR market.”
He also added, “Although commodity prices and markets edged higher against the hope of resumed talks between the US and China on the trade war matters in mid-September 2018, the worries and concern of a slowdown in the Chinese economy from the trade war could deepens further between China and the US for their tariff policies.”
He went on to say that the 11th ANRPC Annual Rubber Conference was held on 8 October 2018 (Monday) at The Riverie by Katathani Collection, Chiang Rai Province of Thailand, hosted by the Rubber Authority of Thailand on behalf of the Government of Thailand. The event with the theme “Adapting the Emerging Megatrends” was attended by approximately 200 participants across 11 countries among the rubber fraternity. Deliberation on the megatrends and sustainability of the industry were the focus of the one-day conference.
The next session of ANRPC Assembly and the 12th ANRPC Annual Rubber Conference will be hosted by Government of Indonesia in 2019.