ANRPC reports NR production outpaced demand in November

KUALA LUMPUR, Malaysia—In November 2022, global production of natural rubber grew 2.7 percent year-on-year in November, to 1.426 million tons, the Association of Natural Rubber Producing Countries has reported.

Demand for the commodity, meanwhile, increased by 0.6 percent to reach a worldwide estimate of 1.301 million tons, ANRPC's monthly statistical report for November also showed.

In the physical rubber markets, prices for most types of rubber "inched lower" in. November, with the exception of latex-in-bulk in Kuala Lumpur, according to the Dec. 20 review.

Daily prices for latex-in-bulk averaged around $1.04 per kilogram in November 2022, up 3 percent from the previous month, according to ANRPC.

The industry also noted a recovery in pricing on the Shanghai Futures Market, as COVID-19 measures in China eased during late-November 2022.

"Trading activities also increasing as the cyclical year-end demand before Lunar New Year holidays," the ANRPC report further stated.