SINGAPORE, March 22 (Xinhua) -- Rubber prices are likely to gain support from global demand, which will probably rise further, said Jason Schenker, president and chief economist of Prestige Economics, on Wednesday during World Rubber Week.

Schenker made such remarks at World Rubber Summit 2017, a key event of World Rubber Week which comprises a series of targeted events and activities addressing different elements of the value chain of rubber industry.

Themed "Orderly Growth for a Healthy Industry," the summit is designed to address broader, strategic policy led issues impacting the rubber industry, and examine how industrial leaders are adjusting to the rapidly changing world economy and new global paradigms.

Schenker noted that global manufacturing and demand for commodities have improved. His words echoed with a new study from the Freedonia Group.

According to World Rubber, global demand for rubber is forecasted to rise 3.9 percent annually to 31.7 million metric tons in 2019. Asia-Pacific region is projected to post the fastest growth in rubber consumption through 2019 and will account for nearly two-thirds of global demand in that year.

Besides World Rubber Summit 2017, the 11th edition of Tyrexpo Asia 2017 and Rubber Exchange Forum were also held during World Rubber Week. Thousands of delegates and exhibitors will spend two days in various knowledge sharing and trade platforms from Wednesday to Thursday.

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