ANRPC Cuts 2011 Global Natural Rubber Output To 9.936 Million Ton

Global natural rubber production was forecast to rise to 9.936 million tonnes in 2011, lower than a previous estimate of 10.025 million tonnes, due to output revisions in Indonesia and the Philippines, industry group ANRPC said on Thursday (May 26).
This was ANRPC's second downward revision of its estimate for this year's output. Production of members of the Association of Natural Rubber Producing Countries reached 9.47 million tonnes in 2010.
"The output growth during the full year 2011 now stands revised down further to 4.9 percent from 5.8 percent forecast a month before and 6.4 percent growth attained during the year before," the ANRPC said in a report.
"The new revision results from a down-scaling of Indonesia's anticipated production for the year to 2.891 million tons, from 2.972 million tonnes expected a month before. Philippines also has downscaled the output anticipated for this year to 107,000 tonnes, from its earlier forecast of 114,000 tonnes."
ANRPC members include Thailand, Indonesia, Malaysia as well as Cambodia, China, India, Papua New Guinea, the Philippines Singapore, Sri Lanka and Vietnam, accounting for 92 percent of global output.
The group also accounts for 92 percent of global exports and 48 percent of global consumption of natural rubber.
Physical prices have dropped almost 20 percent since hitting a lifetime high at $6.40 in February, driven by futures selling on the Tokyo Commodity Exchange and worries about a drop in demand from China as it tightens monetary policy.
(Reuters, May 26, 2011)