July 2018 NR output surges 36.3%

By BERNAMA

Malaysia’s natural rubber (NR) production rose by 36.3% to 56,397 tonnes in July 2018 from 41,364 tonnes in June, said the Department of Statistics (DoS).

The production also increased by 2.1% year-on-year, it said in a statement on “Monthly Rubber Statistics Malaysia, July 2018” released last Friday.

The average price of latex concentrate and SMR20 were recorded at 415.39 sen per kg and 527.8 sen per kg respectively, but both declined 5.6% and 3.2% respectively, compared to the average price in June 2018.

NR exports showed an increase of 7.8% to 56,490 tonnes with China remaining the main destination, accounting for 52.4% of total exports in July, followed by Germany (11.6%), Iran (7.6%), Finland (4.3%) and the US (2.5%).

Domestic consumption of NR in July 2018 also increased by 8.3%.

The rubber glove industry, the main consumer of NR, used 33,518 tonnes, or 75.8%, of the total NR domestic consumption, said DoS.

It said NR stocks stood at 185,491 tonnes, down 5.4% month-on-month from 196,084 tonnes previously. — Bernama