Rubber Market Tails Off in 1991

Rising production and falling consumption returned the natural rubber market to surplus last year, according to official figures.

The International Rubber Study Group reported that world production rose to a record 5.38 million tons in 1991 from 5.21 million in 1990, while consumption dropped to 5.23 million from 5.24 million.

Indonesia, Thailand and India all achieved record production levels last year, while a fall for Malaysia took it down from first to third place, the London-based study group said.

1991 production figures, with 1990 comparisons in parentheses, include Thailand 1.373 million tons (1.271 million), Indonesia 1.352 million (1.262 million), Malaysia 1.253 million (1.292 million), India 360,200 (323,500), China 269,000 (264,200), Nigeria 161,000 (152,000), Philippines 156,000 (168,000), Ivory Coast 76,000 (69,200), Vietnam 64,500 (60,000) and Brazil 35,000 (33,000).

Traders said rising output and falling demand from the recession-hit tire industry pushed the price of natural rubber down to a five-year low in January.