Market and product
Rubber consumption zooms in China, slows in India
China's consumption of natural rubber grew 28% in the first quarter compared with the same period last year, then slowed to 18.7% and 4.3%, respectively, in the second and third quarters.
China is the world's top consumer and importer of natural rubber. In India, the world's second largest natural rubber consumer, consumption growth slowed from 12% to 1.0% in the first and third quarters, respectively. Growth in imports also fell in the three countries over the three quarters.
In China the General Administration of Customs reported that China's natural rubber imports 22 September 2010 in August declined 0.2% compared with the same period a year earlier, to 1.14 million tons.
The ANRPC estimates global production of natural rubber will rise 6.3% to 9.5 million tons this year, with average annual growth from 2007 to 2010 at just 0.7%.The ANRPC noted that the age structure of rubber trees is contributing to the supply crunch.
Large-scale replanting will begin in most major producing countries in 2011, which will cut productive area until the replanted trees start yielding rubber.
China's 2010 production forecast has been revised downward by 2.9%, to 660,000 metric tons.
General Administration of Customs reported that China's natural rubber imports in August rose 4.9% from a year earlier to 158,589 metric tons.
The data showed that August natural rubber imports were up 7.2% from July, when 147,902 tons were imported. In the January-August period, natural rubber imports dropped 0.2% compared with the same period a year earlier, to 1.14 million tons.
China is the world's biggest importer of natural rubber and sources most of its supplies from the world's leading natural rubber producers like Thailand, Indonesia and Malaysia.
(Source: commidityonline.com)
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