Sumitomo Rubber has established a natural rubber procurement subsidiary in Singapore.
The Group says there is a strong need for a procurement system spearheaded by a locally situated organisation, responsible for, and capable of, handling both procurement activities and outward-looking efforts such as GPSNR (Global Platform for Sustainable Natural Rubber).
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“In spite of rising global consumption of natural rubber in recent years, output is anticipated to decline in the major natural rubber production centres of Asia in the near future,” said a Sumitomo statement.
“As such, there is now a growing need for a global approach to natural rubber procurement.
“At the same time, when it comes to securing a stable supply of high-quality, natural rubber, the business environment is currently undergoing a series of major changes that pose various challenges, as mergers and market withdrawals within the natural rubber industry create greater risks of monopolies, price fluctuations and other potential issues in various markets.”
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