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Rubber exports set to decline 13.5 percent by year-end

Shipments of rubber already declined 15 percent yoy as of this July.

Divya Karyza (The Jakarta Post)
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Jakarta
Tue, September 24, 2024

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Rubber exports set to decline 13.5 percent by year-end A worker collects raw latex from a rubber tree at a plantation in Pahang, outside Kuala Lumpur on Jan.12, 2016. Natural rubber is used extensively in many applications and products, either alone or in combination with other materials. (AFP/Mohd Rafsan)

R

ubber exports are estimated to fall by 13.5 percent year-on-year (yoy) to 1.55 million tonnes by the end of this year amid sliding global pries and expectations over the impact of the upcoming EU Deforestation Regulation (EUDR).

Erwin Tunas, executive director of the Indonesian Rubber Producers Association (Gapkindo) said on Monday the shipments of rubber had already declined 15 percent yoy as of this July.

Meanwhile, rubber exports saw a 45 percent decline from 3.27 million tonnes in 2017 to 1.79 million tonnes last year.

“We hope the government can pay more attention to the national rubber industry and not let this sector continue to go downhill. The rubber business still has huge potential, especially in the tire industry, which absorbs 76 percent of natural rubber production,” Erwin said, as reported by Kontan.

Southeast Asia’s largest economy’s national rubber production declined by 39 percent from 3.68 million tonnes in 2017 to 2.24 million tonnes last year, Gapkindo data show.

Read also: Shrinking domestic industry threatens RI rubber exports

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The association estimates production to decline further to 2.15 million tonnes by the end of this year.

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