RSS-4 (Bangkok) NR price, benchmark international price, rose 0.2% to US$ 2.37 per kg in February 2024 over January 2025. The international price of NR RSS-4 (Bangkok) shows an increase of 8.6% in February 2024 over February 2024. The NR price has further eased -0.5% in early March 2024 to US$ 2.36 per kg.

Rubber production, consumption, trade

India's total rubber production increased 6.3% to 1,41,795 tonnes in November 2024 over November 2023. The NR production galloped 5.5% to 96,000 tonnes, while the SR production jumped 8.0% to 45,795 tonnes in November 2024. India's total rubber consumption moved up 5.3% to 1,82,800 tonnes in November 2024.

The rubber production moved up 4.1% to 9,23,231 tonnes in April-November FY2025, against 7.8% growth in the same period last year, while the rubber consumption improved 2.2% to 14,98,400 tonnes compared with 4.0% rise in the corresponding period last year. The rubber imports increased 10.2% to 73,084 tonnes in November 2024 over a year ago, compared with -16.9% dip recorded in November 2023. NR imports rose 25.0% to 45,428 tonnes, while the SR imports slipped -7.8% to 27,656 tonnes.

The consumption of rubber by auto tyre manufacturers, which accounted for 67.1% of total consumption, increased 5.2% to 1,22,602 tonnes in November 2024 over November 2023. The consumption of rubber by auto tyre manufacturers, accounting for 69.0% of the total consumption improved 4.6% to 10,33,648 tonnes in April-November FY2025 over April-November FY2024.

Natural Rubber

The output of NR increased 5.5% to 96,000 tonnes in November 2024 over a year ago. The production of NR preliminarily estimated for December 2024 is 1,09,000 tonne, up 0.9% from 1,08,000 tonne produced during the same month a year ago. The NR consumption moved up 1.8% to 1,14,000 tonnes in November 2024. Preliminary estimate suggests that the country consumed 1,20,000 tonne of NR during December 2024, up 3.4% over 1,16,000 tonne in December 2023. India's NR imports jumped 25.0% to 45,428 tonnes, while the NR export jumped 59.0% to 612 tonnes in November 2024.

The NR consumption eased -1.9% to 9,31,000 tonnes, while the NR production increased 3.4% to 5,44,000 tonnes in April-November FY2025 over a year ago. The NR imports improved 29.4% to 4,27,265 tonnes, while the NR exports increased 15.2% to 2,600 tonnes in April-November FY2025.

The NR stocks stood at 4.03 lakh tonnes in November 2024 compared with 3.76 lakh tonnes in the previous month. The NR stocks have improved from 3.38 lakh tonnes in November 2023.

Synthetic Rubber

India's SR production rose 8.0% to 45,795 tonnes in November 2024 over November 2023. The consumption of SR increased 11.6% to 68,800 tonnes, while the imports eased -7.8% to 27,656 tonnes in November 2024. The consumption of SR by auto tyre makers increased 12.2% to 46,830 tonnes in November 2024.

The SR production moved up 5.2% to 3,79,231 tonnes, while consumption improved 9.7% to 5,67,400 tonnes in April-November FY2025 over a year ago. The imports of SR increased 19.0% to 2,79,848 tonnes. The consumption of SR by auto tyre makers rose 11.6% to 3,92,834 tonnes.

The SR stocks stood at 1,46,550 tonnes end November 2024 from 1,51,375 tonnes in the previous month. The SR stocks showed rise from 1,33,775 tonnes end November 2023.

ANRPC NR Trends January 2025

NR prices have shown notable fluctuations in January 2025. Overall, the natural rubber market in January 2025 exhibited a downward trend, with varying degrees of price adjustments across major benchmarks compared to December 2024. Several key factors have contributed to this bearish trend, including the postponement of EUDR, decreased demand, US tariff policies, and declining oil prices.

With a week long Lunar New Year holidays in January, China's natural rubber inventory level increased with slowing manufacturing activity prior to the holidays. All these details, along with additional insights, are covered in this month’s report. Here’s a snapshot of the recent NR trends:

Based on the performance updates from ANRPC member countries (AMC), the outlook for global NR production in 2025 indicates a marginal growth of 0.3% compared to 2024 levels. This revision reflects adjustments primarily from key producers such as Thailand, Indonesia, Malaysia, China, and Myanmar. Additionally, the global demand outlook for 2025 shows a slight increase of 1.8%.

Outlook

The domestic as well as global natural rubber prices have remained stable in January-February 2025 and early March 2025. Prices will continue to track performance of the regional rubber futures markets, strength of ringgit against the US Dollar coupled with benchmark crude oil prices amid the ongoing concerns for shortage of global NR stocks due to rainy weather in major NR producing countries. Market operators are also keeping an eye development surrounding global geopolitical tensions and economic indicators.