February 22, 2023
Actualization of natural rubber exports from North Sumatra for January 2023 shipments rose significantly by 11.7% to 29,585 tons compared to December 2022.
It is just that this increase, according to the Executive Secretary for the Rubber Association of Indonesia (GAPKINDO) for the North Sumatra Branch, Edy Irwansyah, this actualization has not been able to reach a normal average monthly export of around 38,000-40,000 tons.
On a year-on-year (YoY) basis, for the February 2022-January 2023 period, there was an increase of 8.96% to 347,124 tons compared to the February 2021-January 2022 period. Edy said the export increase in January 2023 was driven by improved demand from major consuming countries to increase stocks.
According to Edy, there has been a change in the position of the first destination for rubber exports from North Sumatra. Usually, Japan is consistently in the first rank, but the United States (US) took first place in January shipments. This change in position was due to increased demand from the US. Last January, 28 countries were export destinations, of which the top five were the main export destinations for North Sumatra’s rubber. The five countries are the US (31.6%), Japan (25.2%), China (9.5%), Brazil (4.9%), and Turkey (4.4%).
For shipments in February 2023, Edy hopes that it will still improve as prices and demand gradually improve. However, the increase in demand is not expected to be too good because production from rubber plantations in North Sumatra is partly still in the leaf fall phase, so production is low.
The price of TSR20 on the Singapore futures exchange (SGX) on January 20 was 139.3 cents US/kg, up 0.3 cents US compared to the average January price. ***
Source: SuaraTani.com