In July this year, Malaysia’s production of NR rose 24.7% to 41,801 tonnes as compared to 33,531 tonnes in June 2020, as reported by the Department of Statistics Malaysia (DOSM) in its Monthly Rubber Statistics July 2020 report. Production fell 30.4% when compared to July 2019.
Malaysia’s NR exports rose 17.6%, amounting to 45,386 tonnes in July 2020, as against 38,587 tonnes in June 2020. China remains the primary destination for the country’s NR exports, with a share of 58.9% of NR exports during the month, followed by Germany (6.0%), Finland (5.1%), Iran (3.9%) and Taiwan (3.0%). Predictably enough, rubber gloves were Malaysia’s main export item, with the export value rising by 14%, to RM3.17 billion ($767 million) in July 2020, compared to RM2.78 billion in June 2020.
The country’s NR stocks fell during the month, by 7.4% to 235,119 tonnes as compared to 253,994 tonnes in June 2020.
The average price of Latex Concentrate recorded a decrease of 467.20 sen/kg as compared to June 2020 (479.90 sen/kg), while the price of Standard Malaysian Rubber 20 (S.M.R. 20) rose to 497.86 sen/kgs compared to 484.33 sen/kg for the same period.
During July 2020, the DOSM says that Malaysia’s total domestic NR consumption for natural rubber was up 5.8% at 46,844 tonnes, over the amount consumed in June 2020. The rubber gloves industry dominated the use of NR in the country, accounting for 36,024 tonnes or 76.9% of the total domestic consumption.