World production of rubber will exceed 12 million tons in 2017

Mar 30, 2017

According to experts from the International Rubber Study Group (IRSG), the world production of rubber will grow to 12.9 million tons in 2017, exceeding last year's figures by 0.5 million tons.

The rubber market was one of the most active in 2016, and in 2017 it again went up after the flood in Thailand and the resulting disruptions in the supply of raw materials. However, in February, soaring natural rubber prices fell by 20% in anticipation of the restoration of the previous production volumes in Thailand.

As the head of the IRSG on Economics and Statistics Lekshmi Nair said, because of January floods, Thailand lost about 25% of rubber, but this year local farmers should restore production in the same volume.