ALTHOUGH the export value for rubber products increased 50.5% (to RM42.6 bil) during the first 11 months of 2020 that was driven by latex-based products such as rubber gloves, the production of natural rubber (NR) decreased by 14.8% month-on-month (mom) in November 2020 to 42,554 tonnes from 49,943 tonnes.
Additionally, the Department of Statistics Malaysia (DOSM) reported that the year-on-year (yoy) production eased 19.7%, as China remained as the main destination for NR exports, accounting for 57.8% of total exports in November 2020.
This was followed by Germany (9.1%), Iran (5.1%), Finland (3.4%) and Turkey (3.4%).
According to DOSM chief statistician Datuk Seri Dr Mohd Uzir Mahidin, rubber gloves were the main export item with the export value increasing by 0.9% mom to RM4.5 bil in November 2020 from October 2020’s RM4.4 bil, with the US, Germany and China continuing to be among the biggest rubber glove export destinations.
NR stocks improved 0.5% mom in November 2020 to 259,440 tonnes.
“The average price of Standard Malaysian Rubber 20 in November 2020 increased to 632.74 sen per kilogramme (kg) against 621.76 sen per kg in October 2020.
“A similar trend was also observed for the average price of latex concentrate which expanded to 620.76 sen per kg in November 2020 from 576.14 sen per kg in October 2020,” he said.
The DOSM also reported that domestic consumption of NR in November 2020 stood at 44,236 tonnes, a decrease of 8.4% mom.
The rubber gloves industry continued to dominate the use of NR natural, accounting for 33,100 tonnes or 74.8% of the total domestic consumption. – Jan 15, 2021
