Thailand, Indonesia, Malaysia to trim rubber exports
Three large producers of natural rubber in Southeast Asia, namely Thailand, Indonesia, and Malaysia, have agreed to cut down rubber exports by some 200,000-300,000 tonnes to tackle the decreasing price of the commodity.
Thailand, Indonesia and Malaysia will cut down rubber exports to tackle the decreasing price of the commodity.(Photo: Antaranews.com)
Jakarta (VNA) – Three large producers of natural rubber in SoutheastAsia, namely Thailand, Indonesia, and Malaysia, have agreed to cut down rubberexports by some 200,000-300,000 tonnes to tackle the decreasing price of the commodity.
The three had come up with a scheme called the Agreed Export Tonnage Scheme(AETS) during their meeting at the International Tripartite Rubber Council(ITRC) last month in Bangkok, Thailand.
Coordinating Minister for Economic AffairsDarmin Nasution elaborated that the AETS will begin implementation in the nextthree months.
All details regarding AETS will be discussedfurther during the Senior Official Meeting of the ITRC on March 4 in Thailand.
In terms of each country’s contribution ofrubber production, Thailand was the highest with 52 percent; Indonesia, 38percent; and lastly Malaysia, 10 percent.
This rubber export reduction policy is importantto restoring the fundamental price of natural rubber, which is presently pricedat 1.45 USD per kg. Meanwhile, for a farmer, the price is even lower, ranging between7,000-7,500 IDR (0.5-0.55 USD) per kg.
Aside from the reduction of rubber exports, the two other strategies that the ITRChas come up with are the Demand Promotion Scheme related to domesticconsumption in each country and the Supply Management Scheme concerning thecommitment to replanting natural rubber trees. –VNA
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Thailand, Indonesia and Malaysia will cut down rubber exports to tackle the decreasing price of the commodity.(Photo: Antaranews.com) 
