KUALA LUMPUR, April 5 ― Natural rubber production fell by 2.0 per cent in February 2024 to 29,691 tonnes against 30,287 tonnes in January 2024, the Statistics Department...
According to the Statistics Department Malaysia, natural rubber production fell by 2.0 per cent in February 2024 to 29,691 tonnes against 30,287 tonnes in January 2024. — Reuters file picKUALA LUMPUR, April 5 ― Natural rubber production fell by 2.0 per cent in February 2024 to 29,691 tonnes against 30,287 tonnes in January 2024, the Statistics Department Malaysia said.In a statement today, chief statistician Datuk Seri Mohd Uzir Mahidin said 85.
He said rubber processor factories contributed 92.3 per cent of the stock followed by rubber consumer factories and rubber estates . Malaysia’s natural rubber exports rose by 27.8 per cent for the month under review to 55,082 tonnes against January 2024’s 43,111 tonnes with China accounting for 52.3 per cent of total exports, followed by Germany , United Arab Emirates , the United States and India .Gloves, tyres, tubes and rubber thread contributed to exports with gloves being the main product valued at RM1.09 billion in February 2024, a 7.0 per cent rise versus the previous month’s RM1.02 billion, the statement said.
According to DoSM, an analysis of the average monthly price showed that concentrated latex recorded a 16.8 per cent rise for the month under review to 684.19 sen per kg while scrap rose by 3.7 per cent to 604.59 sen per kg.According to the Malaysia Rubber Board’s February 2024 Digest, the Kuala Lumpur rubber market saw prices surge throughout the month as SMR 20 recorded a new high of 773.50 sen/kg since 2017.
“The positive sentiment was boosted by a weaker ringgit against the US dollar and heightened expectations of tight rubber supply from major producer Thailand owing to bad weather concerns and a fungus outbreak,” it said. ― Bernama
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