Natural rubber exports up 14.2 per cent in June

KUALA LUMPUR (BERNAMA) – Exports of Malaysia’a natural rubber increased 14.2 per cent in June to 38,587 tonnes from 33,780 tonnes in May, according to the Department of Statistics Malaysia (DOSM).

The main export destination was China accounting for a 68.1 per cent share, followed by Finland (4.2 per cent), Germany (3.8 per cent) and the United States (US) (2.9 per cent).

“Rubber gloves are still the main export item with export value increasing by 30.7 per cent from RM2.13 billion in May 2020 to RM2.78 billion in June 2020,” Chief Statistician Datuk Seri Dr Mohd Uzir Mahidin said in a statement yesterday.

He said the rubber glove industry accounted for 34,358 tonnes or 77.7 per cent of total domestic consumption.

Overall, domestic consumption of natural rubber rose 8.7 per cent in June 2020 to 44,217 tonnes as compared with the previous month.

Meanwhile, production of natural rubber jumped 59.3 per cent in June 2020 to 33,531 tonnes from 21,044 tonnes in the previous month.

However, production of natural rubber decreased by 8.9 per cent in June compared with the same month in the previous year.

Stocks of natural rubber declined in June 2020 by 12.6 per cent to 254,105 tonnes against 290,607 tonnes in May 2020.

Mohd Uzir said the average price of latex concentrate improved to RM4.78 per kg in June from RM4.32 per kg in May, while the price of Standard Malaysian Rubber 20 (SMR 20) grew to RM4.84 per kg from RM4.70 per kg.