888casinodepositbonus| ANRPC: Global natural rubber production increased by 2.9% in April and consumption increased by 2.5%

Source: QinRex Rubber Information Trading Network

Core tip: ANRPC's latest April 2024 report forecast888casinodepositbonus, global natural rubber production is expected to increase by 2% in April888casinodepositbonus.9% to 747,000 tons, down 5% from the previous month; natural rubber consumption increased 2.5% to 1.283 million tons, compared with...

ANRPC's latest April 2024 report predicts that global natural rubber production will increase by 2.9% to 747,000 tons in April, down 5% from the previous month; natural rubber consumption will increase by 2.5% to 1.283 million tons, down 8.4% from the previous month.

In 2024, global natural rubber production is expected to increase by 1.6% year-on-year to 14.542 million tons. Among them, Thailand dropped by 0.5%, Indonesia dropped by 5.1%, China increased by 6.9%, India increased by 6%, Vietnam increased by 2.9%, Malaysia increased by 0.6%, and other countries increased by 7.3%.

In 2024, global natural rubber consumption is expected to increase by 3.2% year-on-year to 15.67 million tons. Among them, China increased by 5.5%, India increased by 3%, Thailand increased by 1%, Malaysia increased by 54.7%, Vietnam increased by 6%, and other countries decreased by 3.8%.

The report pointed out that in April, except India's RSS4, average daily FOB prices fell in major markets. In addition to market sentiment in the rubber market, the strengthening of the currency against the US dollar is crucial to influencing price movements.

The Asian Development Bank's April outlook shows that growth in developing Asia will remain resilient this year despite uncertainties in the external environment. The shift in most economies to more dovish monetary policies, coupled with a recovery in exports, has led to positive regional prospects. However, policymakers must remain vigilant about multiple risks, including escalating conflicts and geopolitical tensions, that could disrupt supply chains and exacerbate commodity price volatility. In addition, U.S. monetary policy, China's real estate market conditions and adverse climate impacts have also posed further challenges. To increase resilience, policymakers should prioritize strengthening trade, cross-border investment and commodity supply networks.