The 39th Meeting of International Tripartite Rubber Council (ITRC)
The 39th Meeting of International Tripartite Rubber Council (ITRC) 26 – 27 September 2024, Bangkok, Thailand The Senior Officials in-charge of the rubber industry from
3 October 2024
The Regional Rubber Market Price (RRMP) declined in the beginning of 2Q before rising significantly from 25 April 2024. The positive movement was contributed by the unusually high prices of RSS3 and STR20 compared to SIR20 and SMR20. This increase in RRMP indicates positive sentiment since the first trading day of the year which confirmed the upward trend in the natural rubber market in TIM (Thailand, Malaysia, and Indonesia), the main global producers. The rise is caused by concerns over tight supply and supply chain disruptions. The significant declines in tight supply in natural rubber production in the region was due to erratic and extremely weather conditions.
USD Depreciation:
Market foresees weak USD Index due to expected lowering of FED interest is positive to stabilise other currencies.
Short-run Sluggish demand growth:
There is a possibility for a slower demand growth due to lower Global Annual GDP Growth and tyre growth production.
Expansionary monetary policy:
Market’s expectation of FED to cut interest gradually (0.75% to 1.00%) from 5.25% – 5.5% in 2024 will help to ease some financial pressure on the USD Debt nations.
EUDR regulations:
EUDR regulations and sustainability initiatives raise costs for natural producers, potentially leading to short-term price increases.
The 39th Meeting of International Tripartite Rubber Council (ITRC) 26 – 27 September 2024, Bangkok, Thailand The Senior Officials in-charge of the rubber industry from
Reception of the 67th National Day of Malaysia The CEO of IRCo graced the reception of the 67th National Day of Malaysia on 12 September
Discussion with Dr. Dedi Budiman Hakim on Natural Rubber Supply and Demand Model IRCo met Dr. Dedi Budiman Hakim, the Director of the International Center
Working Visit to Unit Riset Bogor – Getas (URBG) IRCo visited Unit Riset Bogor – Getas (URBG) on 26 August 2024 in Bogor and discussed
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