Malaysia, Thailand and Indonesia are considering cutting rubber exports by 10-15 percent to curb falling prices, according to Malaysia’s Bernama news agency.
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Malaysia, Thailand and Indonesia are considering cutting rubber exports by 10-15 percent to curb falling prices (Source:thestar.com.my) |
Malaysia’s Plantation Industries and Commodities Minister Mah Siew Keong said on July 17 that the International Tripartite Rubber Council, comprising Malaysia, Indonesia and Thailand, would meet in Bangkok, Thailand, on September15to discuss measures to stabilise rubber prices.
Mah said a draft memorandum on the rubberised road between Malaysia, Indonesia and Thailand would be prepared at the meeting to increase demand and usage of rubber.
He underlined the need to look after the interests of 450,000 rubber smallholders and ensure that rubber prices remainstable.
Citing examples, he said the SMR 20 rubber pricesin Malaysia dropped from 957RM (about 223 USD) per kg in January to about 626 RM per kgin July this year.
The fluctuation of rubber prices was due to the declining demand for the commodity, especially from China, Mah said./.