Indonesia’s Natural Rubber Exports Dropped 6% in 2020
Indonesia is one of the most important natural rubber producers and exporters. However, its natural rubber exports have been dropping gradually since 2017. In 2020, the pandemic was severe in Indonesia, which exerted substantial influences on natural rubber output and exports. It’s known that Indonesia exported 2,246.3kt of natural rubber from January to November 2020, down 5.89% from a year ago.
Steady recover of natural rubber export
Indonesia’ major natural rubber export destinations include the U.S., Japan, China, India and South Korea, and Indonesia’s exports to those countries make up more than 60% of its total. In the first five months of 2020, its natural rubber exports dropped month by month. Its export was 126kt in May, a historically new low point. However, its natural rubber export began to recover in June and increased noticeably in September. The export growth in September, October and November was 7%, 15% and 12% respectively on a year-over-year basis.
Natural rubber export showed growth except for standard rubber
In the first eleven months of 2020, Indonesia exported 2009.9kt of standard rubber, down 10.86% from a year ago. The standard rubber exports accounted for 89% of its total natural rubber exports. Although the exports of mixed rubber, RSS, compound rubber and concentrated latex were small, they had some growth. To be specific, Indonesia exported 148.2kt of mixed rubber, up 144.55% from a year ago and making up 7% of Indonesia’s natural rubber exports. RSS exports were 64kt, up 20.53% from a year ago and accounting for 3%. The compound rubber exports were 19.2kt, up 38.13% from a year ago and accounting for 1%. Only 5kt of concentrated latex was exported, up 6.38% from a year ago.
