According to the ANRPC (Association of Natural Rubber Producing Countries), its preliminary estimates up to May 2021 suggest that world production of natural rubber (NR) in 2021 is anticipated to grow at 5.8%, year-on-year, to 13,812,000 tons. World demand of NR is estimated at 6.7% growth, up to 13,679,000 tons over the same period.
This revised outlook suggests a relatively balanced global NR market for the rest of the year.
However, the organization notes that despite a solid post-pandemic recovery led by two giant economies, China and the USA, management of the pandemic to ensure low infection rates is still key for smooth recovery for all countries.
For example, increasing caseloads in ASEAN countries have, as a result, had an indirect impact on the rubber economy through the various Covid-19 restriction measures to contain the pandemic.