BRI NEWS Malaysia's natural rubber production falls 16.9 pct month-on-month in June

BRI NEWS

Malaysia's natural rubber production falls 16.9 pct month-on-month in June

Xinhua

17:27, August 09, 2019

KUALA LUMPUR, Aug. 9 (Xinhua) -- Malaysia's natural rubber production in June fell 16.9 percent to 36,957 tonnes, from 44,479 tonnes in May, official data showed Friday.

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Owner Low Sang taps a rubber tree for latex on his rubber plantation in Triang, Pahang, Malaysia. (File photo: VCG)

According to Malaysian Statistics Department statement, the natural rubber production for the month also dropped 10.7 percent as compared to 41,364 tonnes as recorded in June 2018.

Meanwhile, exports of Malaysia's natural rubber decreased by 4.1 percent month-on-month to 54,547 tonnes in June.

China remains the key destination of exported natural rubber in June, accounted up to 61.3 percent of the total exports, followed by Germany with 9.8 percent.

Other main exports destinations included the United States (3.6 percent), Iran (3.4 percent) and South Korea (1.9 percent).

The data also showed stocks of natural rubber decreased 6.4 percent month-on-month to 165,596 tonnes in June.

Malaysia's total domestic consumption of natural rubber, in which rubber glove manufacturing accounted for 74.3 percent of its total usage, also fell 10.9 percent month-on-month to 38,791 tonnes.

The average price of latex concentrate was up 2.5 percent month-on-month to 496.61 sen per kilogram in June, whereas the average price of Standard Malaysian Rubber 20 (S.M.R.20) decreased 0.3 percent to 623.92 sen per kilogram.

According to data compiled by the Association of Natural Rubber Producing Countries in April, Malaysia was one of the top five natural rubber producers in the world, after Indonesia, Thailand, China and Vietnam.

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