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May 03, 2023
ANRPC releases Monthly NR Statistical Report, March 2023

The Association of Natural Rubber Producing Countries (ANRPC) releases the Monthly NR Statistical Report, March 2023.

In view of the recent developments and release of the latest outlook by International Monetary Fund (IMF), ANRPC has updated its outlook of global natural rubber (NR) market for this year‒ global production of NR is now projected to grow by 2.7% (0.1% higher than previously reported) reaching 14.916 million tons, while a contraction in global demand for NR by 0.4% going down to 14.912 million tons is expected.

During March, global NR production fell 26.1% to 967,000 tons compared to last month, while global demand for NR is estimated to grow by 7.9% to 1.306 million tons during the same reference period. In spite of such positive market fundamentals in NR market, physical and futures market of NR were volatile attributed to a series of events in the international arena, such as the regional banking crisis in US and Swiss Bank, Credit Suisse, geopolitical tensions, bearish outlook in crude oil, continuous interest rate hike to beat inflation, and the strength of exporting currencies.

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