The Malaysian Rubber Board said demand from China, the world's largest consumer of natural rubber, is expected to increase to support its automotive sector growth, with vehicle sales in April 2020 rising 4.4 per cent year-on-year after recording negative growth over the previous 21 months.
This would give a good start to the global economic network, including the natural rubber market and demand, the MRB said, adding that after experiencing a sharp fall in prices on April 2, 2020, the SMR 20 rubber prices now record a positive movement in the range of between RM4.60 and RM4.95 per kilogrammes from April 6 to May 29, 2020.
It is also supported by positive growth of the global crude oil market, which is currently at US$35 per barrel, and a global shortage of natural rubber supply, as world’s rubber production is expected to decline 2.3 per cent to 13.43 million tonnes in 2020 compared to the previous year due to the Movement Control Order and the wintering season in rubber producing countries.
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