Local Rubber Market Experiences Downturn Amid Regional Influences.

KUALA LUMPUR: The Kuala Lumpur rubber market ended lower on Monday, dragged down by the decline in regional rubber futures markets and a stronger ringgit against the US dollar, a dealer said. She noted that market sentiment was also impacted by uncertainties over the United States monetary path and traders digesting the latest rubber statistics reported by the Association of Natural Rubber Producing Countries (ANRPC). According to BERNAMA News Agency, ANRPC reported that global natural rubber (NR) production up to October 2024 reached 11.2 million tonnes, marking a 2.9 percent increase year-on-year. Meanwhile, global demand declined by 4.5 percent to 12.1 million tonnes. Despite these figures, further losses in the market were limited by the recovery in crude oil prices and disruptions in NR supply due to unfavorable weather conditions in major NR-producing countries. The dealer, citing the Thai Meteorological Department, mentioned that heavy rains might lead to flash floods in southern Thailand until Novem ber 23, 2024, potentially affecting rubber supply. The Malaysian Rubber Board reported that the price of Standard Malaysian Rubber 20 (SMR 20) declined by 10 sen to 847.5 sen per kilogram, while latex in bulk fell by 2.0 sen to 678.5 sen per kilogram. By 5 pm, SMR 20 stood at 841 sen per kilogram, and latex in bulk was at 678 sen per kilogram.