Malaysia's natural rubber production rises 30.2 pct in May

Malaysia's natural rubber production surged 30.2 percent month-on-month to 44,164 tonnes in May, official data showed Friday.

The Malaysian Statistics Department said in a statement that on yearly basis, the natural rubber production increased by 23.5 percent from 35,761 tonnes.

Meanwhile, Malaysia's natural rubber exports in May grew 1.6 percent month-on-month to 56,850 tonnes.

China remains the main destination of exported natural rubber, accounted for 50.5 percent of the total exports, followed by Germany which made up 12.4 percent.

Iran, the United States and Finland were another three key exports markets, accounted for 4.9 percent, 3.7 percent and 3.2 percent respectively.

Natural rubber stocks fell 3.4 percent in May month-on-month to 176,520 tonnes.

Total domestic consumption of natural rubber also dropped 1.4 percent month-on-month to 43,546 tonnes.

In terms of average price, price of Latex Concentrate decreased by 2.3 percent month-on-month to 484.30 sen per kg, whereas price of Standard Malaysian Rubber 20 (S.M.R. 20) rose 1.9 percent to 625.65 sen per kg.