As of October 2024, the average monthly global price of rubber was 2.63 U.S. dollars per kilogram. The average annual price of natural rubber at the Singapore Commodity Exchange in 2023 was 1.58 U.S. dollars per kilogram.
Rubber as a commodity: many end uses
Rubber is a widely used material, in both naturally and synthetically sourced forms. Companies use it in the manufacturing of tires and tubes, rubber gloves, latex condoms, erasers, in adhesives and coatings, nozzles, as elastic material in clothing, and more. Accordingly, rubber is an important commodity due to its numerous uses in everyday items.
Rubber prices and rubber producers
As with other internationally traded commodities that have relatively low market prices, low rubber prices have a negative impact on the rubber producers themselves. The resulting issues of poverty for natural rubber producers has led to the creation of the Fair Rubber Association (FRA), which is a multi-stakeholder association that aims to improve the lives and working conditions of the primary producers by utilizing Fair Trade principles.
Monthly rubber price at the Singapore Commodity Exchange from January 2020 to October 2024
(in U.S. dollars per kilogram)
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World Bank. (November 18, 2024). Monthly rubber price at the Singapore Commodity Exchange from January 2020 to October 2024 (in U.S. dollars per kilogram) [Graph]. In Statista. Retrieved December 05, 2024, from https://www.statista.com/statistics/727582/price-of-rubber-per-pound/
World Bank. "Monthly rubber price at the Singapore Commodity Exchange from January 2020 to October 2024 (in U.S. dollars per kilogram)." Chart. November 18, 2024. Statista. Accessed December 05, 2024. https://www.statista.com/statistics/727582/price-of-rubber-per-pound/
World Bank. (2024). Monthly rubber price at the Singapore Commodity Exchange from January 2020 to October 2024 (in U.S. dollars per kilogram). Statista. Statista Inc.. Accessed: December 05, 2024. https://www.statista.com/statistics/727582/price-of-rubber-per-pound/
World Bank. "Monthly Rubber Price at The Singapore Commodity Exchange from January 2020 to October 2024 (in U.S. Dollars per Kilogram)." Statista, Statista Inc., 18 Nov 2024, https://www.statista.com/statistics/727582/price-of-rubber-per-pound/
World Bank, Monthly rubber price at the Singapore Commodity Exchange from January 2020 to October 2024 (in U.S. dollars per kilogram) Statista, https://www.statista.com/statistics/727582/price-of-rubber-per-pound/ (last visited December 05, 2024)
Monthly rubber price at the Singapore Commodity Exchange from January 2020 to October 2024 (in U.S. dollars per kilogram) [Graph], World Bank, November 18, 2024. [Online]. Available: https://www.statista.com/statistics/727582/price-of-rubber-per-pound/