KUALA LUMPUR, Malaysia—The Association of Natural Rubber Producing Countries expects natural rubber 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 percent to 14.738 million metric tons in 2023, down from 14.8 million tons registered last year, according to the January NR statistical report published Feb. 21.
Global production, on the other hand, is set to increase 2.5 percent year-on-year to 14.693 million tons, ANRPC added.
In January this year, global NR production reached 1.32 million tons, on par with last year.
NR demand fell 11 percent year-on-year to 1.048 million tons during the month, based on the preliminary estimates from ANRPC member countries.