Global natural rubber production to fall 4.7% in 2020
The Association of Natural Rubber Producing Countries (ANRPC) has further scaled back its outlook on world production of natural rubber. As per the revised outlook, world production is expected to fall by 4.7 per cent to 13.130 million tonnes during 2020.
The revised outlook is 303,000 tonnes lower than the outlook reported in April. The outlook on world consumption is scaled down further, largely based on the revisions made by India and Indonesia. Based on the revised outlook, the world consumption in 2020 is expected to fall 6.0 per cent to 12.904 million tonnes. These figures include estimates and forecasts for the non-ANRPC countries.
“While the outbreak of the COVID-19 pandemic put the world rubber industry into one of the worst crises in the past few decades and pushed the stakeholders in the whole value-chain into chaos and hopelessness, ANRPC has made it a point to gather the grassroots level information of all developments and provide the most updated information to the market. It is during the uncertain times that trusted facts assume greater value. Timely availability of such trusted facts enables the policymakers, stakeholders, including the farmers, to get a closer picture of the undercurrents in the market and identify the most appropriate strategies”, ANRPC secretary general RB Premadasa commented.