ANRPC releases Monthly NR Statistical Report, March 2024

In March, the natural rubber (NR) market experienced a notable uptick in both the block rubber, ribbed smoke sheets and latex segments across key markets. This improvement can be attributed to the tight supply resulting from the seasonal leaf exfoliation period, coupled with increased demand driven by the resumption of economic activities in China following the Lunar New Year holidays.

Despite the steady projection of slow growth with resilience by the International Monetary Fund (IMF), there are concerns amid the escalating geopolitical tensions. Geopolitical factors have historically influenced supply chains and global logistics, with recent events such as the RussiaUkraine conflict, military coups in Africa, and tensions in the Middle East exacerbating these challenges.

Managing supply chain risks has become progressively complex for global companies due to heightened geopolitical instability. Fallout from conflicts like the Russia-Ukraine situation, escalating tariffs between major economies, and regulatory shifts such as import/export bans have disrupted access to crucial resources and markets. Additionally, political and military crises, such as coups and attacks on shipping routes, have forced companies to seek alternative options, leading to logistical hurdles and financial strains as they endeavor to adapt swiftly to evolving circumstances.

Below, you will find a snapshot of the outlook for the world NR market for March 2024.

Fig 1: Average Daily FOB prices across key markets ($/kg)

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Thank you.

TOH, Heng Guan

Secretary-General