January production on a par with last year's, while demand drops 11%

Kuala Lumpur - The Association of Natural Rubber Producing Countries (ANRPC) expects natural rubber (NR) consumption to be on a par with that of 2022, potentially showing a very slight decline this year.

Global NR demand is projected to fall by 0.1% to 14.738 million tonnes in 2023, down from 14.8 million tonnes registered last year, according to the January monthly NR statistical report published 21 Feb.

Global production, on the other hand, is set to increase 2.5% year-on-year to 14.693 million tonnes, ANRPC added.

In January this year, global NR production reached 1.32 million tonnes, on a part with last year.

NR demand fell 11% year-on-year to 1.048 million tonnes, during the month, based on the preliminary estimates from ANRPC member countries.