In 2011, the natural rubber production of the 11 member countries of the Natural Rubber Producing Countries Association (ANRPC) increased by 6%, but the demand growth did not keep pace.
This year Thailand will increase its natural rubber production from the previously forecasted 3.35 million tons to 337,5000 tons. Similarly, Malaysia also adjusted the previously forecasted 1 million tons to 102,1,000 tons. From January to October, Indonesia's natural rubber production increased by 10.3%. The Indonesian government has not adjusted its annual growth forecast.
The total natural rubber production in 2011 is expected to reach 1,005,9000 tons, which is an increase of 6% compared with 2010.
Demand for natural rubber in China, India and Malaysia together accounts for 45% of global demand. This year, the demand growth of these three countries is expected to be only 0.7%. Last year's growth rate was 4.7%.
Association Secretary General Dato Dr. Kamarul Baharain Basir said that the global economy is weak and the natural rubber market is weak. Almost every day, bad economic news comes from all parts of the world.
China's GDP growth in the third quarter fell to 9.1%, and GDP in the second quarter was 9.5%. In addition, the China Association of Automobile Manufacturers lowered its forecast for vehicle sales this year from 15% to 10%. This has a major impact on the price of natural rubber. With the slow development of the global economy, the market will still lack momentum.
This year Thailand will increase its natural rubber production from the previously forecasted 3.35 million tons to 337,5000 tons. Similarly, Malaysia also adjusted the previously forecasted 1 million tons to 102,1,000 tons. From January to October, Indonesia's natural rubber production increased by 10.3%. The Indonesian government has not adjusted its annual growth forecast.
The total natural rubber production in 2011 is expected to reach 1,005,9000 tons, which is an increase of 6% compared with 2010.
Demand for natural rubber in China, India and Malaysia together accounts for 45% of global demand. This year, the demand growth of these three countries is expected to be only 0.7%. Last year's growth rate was 4.7%.
Association Secretary General Dato Dr. Kamarul Baharain Basir said that the global economy is weak and the natural rubber market is weak. Almost every day, bad economic news comes from all parts of the world.
China's GDP growth in the third quarter fell to 9.1%, and GDP in the second quarter was 9.5%. In addition, the China Association of Automobile Manufacturers lowered its forecast for vehicle sales this year from 15% to 10%. This has a major impact on the price of natural rubber. With the slow development of the global economy, the market will still lack momentum.
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