Metallurgy / Chemicals / Rubber & Plastics

As a major global producer and exporter of natural rubber, Malaysia's natural rubber exports decreased by 5.38% month on month in March compared to the same period last year, with a year-on-year decrease of 14.14%, still at a relatively low level in history. It is expected that Malaysia's natural rubber exports in April may slightly decline compared to March.

The year-on-year decline in export volume in March is still at a relatively low level in the same period in history

According to the latest import and export data released by the Malaysian Bureau of Statistics, Malaysia's natural rubber export volume in March was 45800 tons, a year-on-year decrease of 14.14%. From February to May of each year, Malaysia is in the period of cutting cessation, and its production is at a low level within the year. In March 2023, Malaysia's natural rubber production was less than 30000 tons, which is at a historical low level during the same period; At the same time, the import volume in March was less than 100000 tons, which is also lower than the same period in previous years. The output has decreased, and the export volume has remained at a relatively low level during the same period.

Double reduction in market share and quantity of exports to China

Import and export data shows that since August 2022, with the decline in overseas demand, the proportion of exports to China has increased. From October to November 2022, among Malaysia's natural rubber export trading partners, the proportion of exports to the Chinese market exceeded 50%. Among them, the proportion of exports to China in November 2022 was 54.3%, which is the second highest monthly level in 2022. In March 2023, exports to China accounted for 50.08%, approximately 23300 tons, a decrease of 15.52% month on month and 14.14% year-on-year.

The proportion and export volume of the main exported rubber type SMR20 # have both decreased

Import and export data shows that Malaysia's natural rubber exports are mainly based on SMR20 #. In March 2023, a total of 27700 tons of SMR20 # were exported, a decrease of 18.55% month on month and 22.69% year on year; The proportion is 60.6%, with a decrease of about 9.8 percentage points. The total export volume of SMR10 # is 13300 tons, accounting for 29.1%.

Import and export data shows that Malaysia's natural rubber production has shown a fluctuating downward trend since 2011 to 2012, but the import volume has gradually increased. The import volume for 2020 to 2021 is above 1.2 million tons, which is a historical high level. In recent years, with the rise of natural rubber in C ô te d'Ivoire, Malaysia has been able to provide low-cost raw material processing and production of SMR20 # and SMR10 # for export. In 2022, imports from C ô te d'Ivoire can account for 30% -40% of the total imports. In addition, Malaysia is the world's largest producer of disposable gloves, mainly importing natural latex from neighboring countries for domestic production of disposable gloves and processing imported rubber raw materials into natural rubber for export to overseas markets. One of the main raw materials for producing disposable gloves, natural latex, is mainly imported from Thailand.