Malaysia’s Natural Rubber Production Rises 9.7% in August
Malaysia’s Department of Statistics (DOSM) revealed that Malaysia’s natural rubber production was up by 9.7% (31,309 tonnes) in August this year. This is an improvement from July’s record of 28,533 tonnes.
However, compared to a year ago (August 2022), this was a drop of 16.9%. Malaysia’s natural rubber production in August 2022 was 37,666 tonnes. The smallholders’ sector was the biggest contributor to the August increase, accounting for 83.3%.
Total Stocks of Natural Rubber Declined in August But Exports On the Rise
Natural rubber stocks for August 2023 dropped by 0.8% (142,620 tonnes) compared to July (143,757 tonnes). Rubber processors were the biggest contributors to the stocks. Rubber consumer factories and rubber estates were second and third respectively.
Exports of natural rubber for August 2023 rose by 11% (57,488 tonnes) compared to July (51,784 tonnes). Gloves, rubber threads, condoms, tyres, and tubes were the main contributors to the rise. The value of glove exports alone amounted to RM1 billion for the month of August. Exports were mainly targeted toward China (47.9% of total August exports). Germany, the United States, and Pakistan followed closely behind.
A Lucrative Market for A Possible Business Venture
Malaysia’s natural rubber production sector achieving the 9.7% growth is a positive outlook for the local rubber industry. If you have a possible business model suited to this industry and would like to tap into that strength, we’ve got you covered.
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