KUALA LUMPUR—Natural rubber prices remained flat in November despite rising crude oil prices and disruption for growers, the Association of Natural Rubber Producing Countries said in a recent report.
The continuing low level of pricing reflected a significant imbalance between supply and demand for the commodity, the latest data from the association indicates.
During the first 11 months of 2017, global NR supply rose 4.7 percent year-on-year to reach 11.7 million tons, according to ANRPC's latest Natural Rubber Trends & Statistics.
Over the same period, demand for NR amounted to 11.8 million tons, up just 1.2 percent, ANRPC Secretary General Nguyen Ngoc Bich said in his own review.
ANRPC added the impact of typhoon Damrey, which damaged about 40,000 hectares of crops in central and southern Vietnam, including rubber plantations. Southern Thailand, a major NR producing region, was also hit by flash floods as a result of the typhoon, according to the secretary general's review.
ANRPC's Natural Rubber Trends and Statistics report provides figures for NR supply and demand, across all association member countries.