As part of its GreenX Circle initiative, industrial tire manufacturer GRI has opened a new natural rubber collection center in the Monaragala District of Sri Lanka, to support local rubber tree planters. The company said this will enable rural farmers to earn fair value for their natural rubber product.

COVID-19 is not only a threat to human health but also to the economy, including the natural rubber sector. Global natural rubber import quantity in the period from January to April was recorded at 2 million tons, or declining by 19.7 percent year-on-year (yoy). Natural rubber import quantity from China, as the biggest consumer, weakened by 4.9 percent yoy in the same period. Similarly, natural rubber import quantity from the United States and Japan also dropped 9.2 percent yoy and 13 percent yoy, respectively.

MELBOURNE/SINGAPORE (Reuters) - Oil prices fell on Tuesday, erasing earlier gains, on concerns that the surge in coronavirus cases in the United States, the world’s biggest oil user, will limit a recovery in fuel demand.

SINGAPORE (Reuters) - The dollar nursed losses on Tuesday and riskier currencies added a fraction to galloping gains, after better-than-expected U.S. services data provided the latest boost to confidence in a worldwide economic recovery from the COVID-19 pandemic.

NEW YORK (Reuters) - Asian markets looked set to rise on Tuesday as investors weighed growing expectations of an economic rebound in China and a resurgent U.S. services industry, brushing off worries about a spike in U.S. coronavirus cases.

Despite the continued bearish sentiment, oil markets saw a bit of support over the past week, resulting from the sharp decline in the crude oil inventories as reported by the EIA. Last Thursday, prices Brent hit its highest level since March at $43.23, closing at $42.78, up by 4.11% w/w, while WTI closed at $40.32, up by 4.54% w/w, with a spread of $2.46 which narrowed by $0.07 w/w.