Global Natural Rubber Production Expected to Increase by 4.9% to 954,000 in March 2022

The latest March report released by ANRPC predicts that global natural rubber production in 2022 is expected to increase by 2.3% year-on-year to 14.292 million tons. Among them, Thailand increased by 1.4%, Indonesia increased by 4%, China increased by 1.8%, India increased by 1.2%, Vietnam decreased by 0.4%, and Malaysia increased by 6.5%.

Global natural rubber production is expected to increase by 4.9% to 954,000 tons in March. In the first quarter, global natural rubber production is expected to fall by 1.1% to 3.186 million tons.

In 2022, global natural rubber consumption is expected to increase by 2.2% year-on-year to 14.643 million tons. Among them, China increased by 0.5%, India increased by 3.5%, Thailand increased by 11.8%, and Malaysia increased by 3.2%.

Global natural rubber consumption in March is expected to increase slightly by 0.1% to 1.288 million tons. In the first quarter, global natural rubber consumption is expected to drop by 0.8% to 3.549 million tons.

The report noted that the United Nations Conference on Trade and Development (UNCTAD) recently downgraded its 2022 global economic growth forecast by 1% to 2.6% in early March 2022. This downward revision stems from the Russian-Ukrainian conflict. Therefore, this may affect the outlook growth of the global natural rubber industry in 2022, that is, the shortage of microchips in the global automotive industry may intensify due to Russia's ban on its chip material exports, and sanctions against Russia may affect the country's normal trade.

Countries have taken different approaches to managing the Covid-19 pandemic, albeit in the national and economic interests. After being hit by the pandemic, effective COVID-19 management remains key to boosting the economy. Otherwise, its economic recovery remains uncertain.