SINGAPORE (Reuters) - Oil prices dropped on Tuesday for a second straight session as the cons of a slowing global demand outlook outweighed the pros of OPEC’s agreement with associated producers at the end of last week to deepen crude output cuts in early 2020.
Beijing: China's exports declined for the fourth consecutive month in November as a trade war with Washington rumbles on, official data showed Sunday, although imports rebounded. Exports were down by 1.1 per cent in the last month of the year, after a drop of 0.9 per cent in October on slowing global demand.
Natural rubber production in October 2019 decreased 5.2 per cent year on year
Malaysia's natural rubber production decreased 5.2 per cent in October 2019 to 48,549 tonnes as compared to the same month in the previous year. Comparison month on month also showed a decrease of 21.4 per cent from 61,731 tonnes, which is recorded in September 2019.
Exports of Malaysia's natural rubber amounted 50,600 tonnes, increased by 5.3 per cent against 48,058 tonnes in September 2019. The primary natural rubber export destination is People’s Republic of China with a share of 39.3 per cent from total exports in October 2019 followed by Germany (11.2%), Iran (6.2%), U.S.A. (3.3%) and Finland (3.2%).
Stocks of natural rubber was 189,895 tonnes in October 2019 as compared to 189,504 tonnes in September 2019, an increase of 0.2 per cent.
Average price of Latex Concentrate was 425.61 sen per kilogramme in October 2019, decreased by 2.9 per cent as compared to September 2019. Similarly, the average price of Standard Malaysian Rubber 20 (S.M.R. 20) also decreased by 2.7 per cent to 536.50 sen per kilogramme for the same period.
Total domestic consumption of natural rubber was 41,924 tonnes, an increase of 6.8 per cent against 39,264 tonnes as reported in September 2019. Rubber gloves industry dominates the use of natural rubber with 31,677 tonnes or 75.6 per cent of the total domestic consumption.
Data for October 2019 is provisional. The data will be updated based on the latest available figures and subsequently published in the November 2019 publication.
Released By:
DATO' SRI DR. MOHD UZIR MAHIDIN
CHIEF STATISTICIAN MALAYSIA
DEPARTMENT OF STATISTICS, MALAYSIA
DrUzir_Mahidin Dr_Uzir
9 December 2019
Source DOSM
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