Feb 2022 Malaysia Natural Rubber Export
February Malaysia’s natural rubber export hit a three-year low
Source: Department of Statistics, Malaysia
According to the latest data released by the Department of Statistics, Malaysia, Malaysia’s natural rubber export volume was 47.7kt in February 2022, down 6.79 % M-O-M and down 12.72 % Y-O-Y, and the export volume was the lowest compared with that in the same period of last two years. The natural rubber consumption in Malaysia declined somewhat in February, but Malaysia’s import volume significantly decreased, and the output dropped. Therefore, the export volume in February went down.
In February, Malaysia’s natural rubber export volume to China was about 24.2kt, up 25% M-O-M and taking up 51% of the total export volume, mainly as downstream plants resumed production from the second half of February, leading to an increase in demand for feedstock.
March Malaysia’s natural rubber export forecast
Malaysia’s natural rubber export volume is possible to slightly increase in March. First, according to the data of the past 9 years, the probability of an M-O-M increase in March is 78%. Second, with Cote d’Ivoire’s natural rubber export volume increasing, it is predicted that Malaysia’s natural rubber import volume will remain relatively high. However, Malaysia’s natural rubber production will remain low in March, which will curb the increase in exports. Third, China’s natural rubber demand in March significantly increases from February, so the demand for Malaysia-origin natural rubber will increase. However, in H2 March, some of China’s downstream plants reduced their operating rates, weighing on the increment in natural rubber imports.
All information provided by SCI is for reference only, which shall not be reproduced without permission.
Please click "Read more" for the full article.
