Malaysia, Indonesia, Thailand to stabilise rubber prices
Malaysia, Thailand and Indonesia are considering cutting rubber exports by 10-15 percent to curb falling prices, according to Malaysia’s Bernama news agency.
Malaysia, Thailand and Indonesia are considering cutting rubber exports by 10-15 percent to curb falling prices (Source: thestar.com.my)
KualaLumpur (VNA) - Malaysia, Thailand and Indonesia are consideringcutting rubber exports by 10-15 percent to curb falling prices, according toMalaysia’s Bernama news agency.
Malaysia’sPlantation Industries and Commodities Minister Mah Siew Keong said on July 17that the International Tripartite Rubber Council, comprising Malaysia,Indonesia and Thailand, would meet in Bangkok, Thailand, onSeptember 15 to discuss measures to stabilise rubber prices.
Mahsaid a draft memorandum on the rubberised road between Malaysia, Indonesia andThailand would be prepared at the meeting to increase demand and usage ofrubber.
Heunderlined the need to look after the interests of 450,000 rubber smallholdersand ensure that rubber prices remain stable.
Citingexamples, he said the SMR 20 rubber prices in Malaysia dropped from 957RM (about223 USD) per kg in January to about 626 RM per kg in July thisyear.
Thefluctuation of rubber prices was due to the declining demand for the commodity,especially from China, Mah said.-VNA
Malaysia’s rubber export was estimated to hit 38 billion RM (equivalent to 11.8 billion USD) in 2013 and is forecast to reach 40.4 billion RM (12.5 billion USD) in 2014.
Malaysian exports of natural rubber (NR) in May plummeted 17.4 percent from the previous month to 40,500 tonnes, the country’s statistics department said on July 13.
Malaysia’s rubber product exports hit 8.46 billion RM (over 2 billion USD) in the first half of this year, up 15.1 percent compared to the same period last year.
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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) 
