KUALA LUMPUR, Malaysia—The Association of Natural Rubber Producing Countries has reported an increase in global natural rubber production over the first three quarters of 2024.
Output of the commodity during the nine-month period increased by 3.2 percent year-on-year to 9.9 million metric tons, according to the ANRPC's latest Monthly NR Statistical Report, issued Oct. 21. Meanwhile, global NR demand increased by 1.4 percent to 11.3 million tons during the same reference period.
Supply is set to tighten in the NR market, however, due to disruptions to production caused by recent typhoon Yagi and flooding in growing regions in China, Thailand and Vietnam.
ANRPC went on to note that it had revised its outlook for global NR production, with an annual growth of 3.2 percent now anticipated.
The revision, the association said, was based on new input from member countries—in particular, an update on Indonesia's production for 2023.
Similarly, global demand growth is also revised to grow at 0.4 percent year-to-year, following revisions in China, Indonesia and Malaysia.
