On 16 August 2022, the Association of Natural Rubber Producing Countries (ANRPC) released its monthly natural rubber statistical report for July 2022. The global production of natural rubber (NR) is estimated to expand by 3.9 %, year-on-year, to 1.283 million tonnes; while the global demand is expected to grow faster at 8 %, year-on-year, to 1.266 million tonnes during July 2022. During the same reference period, the prices in NR market have edged lower as compared to June 2022 amid a gloomy global economic outlook, as released by International Monetary Fund (IMF) at 3.2 % for 2022, lower than 0.4 % point in corresponding to its earlier forecast in April 2022.

Despite concerns on the slowdown of China’s economy, the Government has introduced various measures including Central Bank cuts interest rates to stimulate the economic recovery from lockdowns and worsening of real estate crisis. While the China’s auto sales have further improved in July 2022 supported by lower sales tax and incentives for electric vehicles and also anticipating more sales in the coming months too. This may lead to a better-than-expected recovery in the NR market. Moreover, the NR market, especially NR exporting countries are benefiting from the relatively strong US dollar as it encourages more exports.

www.anrpc.com

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