The Strongest El Nino In 18 Years Would Further Affect Global NR Production In 2015
18 August 2015
The global NR production is expected to decrease further in 2015 following the prolonged and strong El Nino.
As a matter of fact, for the first seven months of 2015, NR production in Association of Natural Rubber Producing Countries (ANRPC) fell by 2.1% to 5.895 million MT as compared to the same period in 2014 at 6.020 million MT.
The current phenomena of El Nino is the strongest in 18 years since 1997 and is forecast by National Oceanic Atmospheric Administration (NOAA), USA to linger until end of this year and most likely to continue even further to early 2016.
El Nino changes the weather pattern and many countries are experiencing hot and dry weather. The current prolonged El Nino brings drought to agriculture areas and impacting negatively the production of many commodities such as wheat, sugarcane, cocoa, natural rubber and palm oil in several parts of the world particularly in USA, Latin America, Asia and Australia.
In addition to that, the current non-remunerative low price would further impact NR production in all producing countries.