The production of natural rubber saw a decline of 14.8 percent from 49,943 tonnes in October 2020 to 42,554 tonnes in November 2020. At the same time, the year-on-year production showed registered a decline of 19.7 percent too.
On the other end, exports of Malaysia’s natural rubber have increased by 56,522 tonnes (3.7 percent) in November 2020 in comparison to the 54,492 tonnes produced in the previous month.
China remained the main destination for natural rubber exports with 57.8 percent of total exports followed by Germany (9.1 percent), Iran (5.1 percent), Finland (3.4 percent) and Turkey (3.4 percent).
Rubber gloves were the main exported item with an export value of RM4.5 billion, an increase of 0.9 percent, in November 2020. October registered export value of RM4.4 billion. The United States of America (US), Germany and China were the highest importer of rubber gloves.
The stocks of natural rubber has notably increased 0.5 percent to 259,440 tonnes in November 2020.
Average price of Latex Concentrate recorded an increase of 620.76 cent per kilogramme and the Standard Malaysian Rubber 20 (S.M.R 20) increased from 621.76 cent per kilogramme to 632.74 cent per kilogramme within the same duration.
Total domestic consumption for natural rubber declined by 8.4 percent (44,236 tonnes) as compared to October 2020. The rubber gloves industry continues to dominate the use of natural rubber with 74.8 percent (33,110 tonnes) from the total domestic consumption.