February 3, 2020 / 10:49 AM / 15 days ago

Global natural rubber output, demand could rise in 2020- ANRPC

MUMBAI, Feb 3 (Reuters) - Global natural rubber output is likely to hit a record 14.285 million tonnes this year, up 3.8% from a year ago, boosted by an expansion in area under cultivation, the Association of Natural Rubber Producing Countries (ANRPC) said on Monday.

Demand for natural rubber is likely to rise 2.7% to 14.07 million tonnes in 2020, the grouping said in a statement.

Last year production eased 0.7% to 13.76 million tonnes, hit by an attack of fungal disease in key producer nations, while demand fell 1 % to 13.7 million tonnes on a slowdown in the auto industry worldwide, it added.

The Tokyo Commodity Exchange (TOCOM) rubber contract for July delivery slumped nearly 6% to a one-week low on Monday, hit by worries about the fast-spreading virus in China, although bargain-hunting by some investors trimmed losses. (Reporting by Rajendra Jadhav; Editing by Clarence Fernandez)

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