However, NR production fell 16.9% year-on-year compared to 37,666 tonnes in August 2022.

Production of NR in August 2023 for Malaysia was mainly contributed by the smallholder sector (83.3%) compared to the estate sector (16.7%).

Chief Statistician Uzir Mahidin said the total stocks of NR in August 2023 decreased by 0.8% to 142,620 tonnes compared to 143,757 tonnes in July 2023.

“Rubber processors contributed 88.1% of the stocks followed by rubber consumers factory (11.7%) and rubber estates (0.2%),” Uzir said in a statement today.

NR exports amounted to 57,488 tonnes in August 2023, an increase of 11% against July 2023 (51,784 tonnes), contributed by NR-based products such as gloves, tyres, tubes, rubber threads and condoms.

Gloves were the main exports of rubber-based products with a value of RM1 billion in August 2023, an increase of 9.4% compared to July’s RM0.96 billion.

China remained the main destination for NR exports, accounting for 47.9% of total exports in August 2023, followed by Germany (8.7%), Iran (4%), the US (2.9%), and Pakistan (2.7%).

The department said that an analysis of the average monthly price showed that concentrated latex recorded a 3.9% month-on-month decline to 471.09 sen per kg in August from 490.18 sen per kg in July.

Scrap rubber dropped by 1.9% to 462.05 sen per kg from 471.14 sen per kg.

“Prices for all standard Malaysian rubber (SMR) decreased between 0.7 and 3.9%,” the department said.

According to the August 2023 issue of the Malaysia Rubber Board Digest, the daily price of SMR 20 in the Kuala Lumpur rubber market moved in an upward momentum at the end of August as compared with July.

This scenario was supported by gains in crude oil prices and China’s economic stimulus measures.