KUALA LUMPUR, Jul 13 (NNN-BERNAMA) – Malaysia’s natural rubber production increased by 20.1 percent in May, to 25,608 tonnes, as compared to 21,325 tonnes in Apr, this year, official data showed, yesterday.
The Department of Statistics Malaysia (DOSM), said in a statement that, year-on-year comparison showed that, the production of natural rubber rose 6.1 percent from 24,126 tonnes a year ago.
Meanwhile, total stocks of natural rubber in Malaysia decreased by 16.9 percent month on month to, 175,368 tonnes in May.
Exports of Malaysia’s natural rubber, on the other hand, grew 6.3 percent month on month, to 50,796 tonnes in May.
China remained the main destination for Malaysia’s natural rubber exports, which accounted for 39.2 percent of total exports in May.
This was followed by India (10.6 percent), Germany (9.4 percent), the United Arab Emirates (6.5 percent) and the United States (4.6 percent).
The export performance was contributed by natural rubber-based products, such as gloves, tyre, tube and rubber thread. Gloves were the main exports of rubber-based products, with a value of 1.25 billion ringgit (267.58 million U.S. dollars) in May, up 14.1 percent from the previous month.
“Generally, the market sentiment was boosted by firmer advice in regional rubber futures markets, amid concerns over tight global raw materials supply in major producing countries, due to heavy rains,” said DOSM.– NNN-BERNAMA
