KUALA LUMPUR, 15 July – Rubber glove export value fell to RM1.6 billion or a 30% decline in May compared to RM2.2 billion reported in April this year.
Chief Statistician Datuk Seri Dr Mohd Uzir Mahidin said in a statement today that natural rubber exports for the month of May also fell 26.3% to 43,197 tonnes against 58,596 tonnes in April.
China remained the main destination for natural rubber exports which accounted for 44.6% of total exports in May 2022 followed by the US (12.4%), Turkey (4.5%), Brazil (4.4%) and Finland (3.7%).
“Total stocks of natural rubber in May 2022 decreased by 2.8% to 289,430 tonnes as compared to 297,654 tonnes in April 2022. Rubber processors contributed 92.7% of the stocks followed by rubber consumers factory (7.2%) and rubber estates (0.1%),” Mohd Uzir added.
According to the Department of Statistics Malaysia, natural rubber production decreased by 25.2% in May 2022 to 21,073 tonnes compared to 28,164 tonnes reported last year due to global rubber market sentiment.
By monthly comparison, the rubber production in May also declined 6.3% compared to April this year at 22,498 tonnes.
Further gains were also weighed by inflation anxieties, heightened uncertainty regarding global economic slowdown from China’s zero Covid-19 policy, and persistent Russia-Ukraine conflict as reported in the Malaysian Rubber Board Digest published in May 2022. — The Malaysian Reserve
