Malaysia’s natural rubber (NR) production surged by 20.6% in October 2024, reaching 38,400 tonnes, compared to 31,847 tonnes in September 2024 according to the Department of Statistics Malaysia (DOSM). Year-on-year, production also saw a 16.6% increase from 32,944 tonnes in October 2023. The majority of the production was contributed by the smallholder sector, accounting for 88.6% of total output.
Total NR stocks in October 2024 rose by 1.9% to 134,844 tonnes, up from 132,391 tonnes in September 2024. Rubber processors’ factories held 88.1% of the stocks, followed by rubber consumers’ factories with 11.8% and rubber estates at 0.1%.
Exports of NR grew by 20.6% in October 2024, totalling 48,151 tonnes compared to 39,930 tonnes in September 2024. China remained the largest importer, accounting for 43.2% of exports, followed by Germany (9.8%), the UAE (9.2%), the USA (4.8%), and Portugal (2.8%). Rubber-based products, especially gloves, tyres, tubes, and rubber thread, were the key drivers of export growth. NR gloves alone were valued at RM1.5 billion in October, a 21.8% increase from September.
The average monthly prices for Concentrated Latex and Scrap also saw significant increases of 9.8% and 7.4%, respectively. All Standard Malaysian Rubber (SMR) grades experienced price increases between 6.2% and 9.7%.
Source: businesstoday