Jakarta. The International Rubber Tripartite Council, a grouping of Asia’s top three rubber-producing countries, will reduce exports by an additional 85,000 tons from September to December this year, an Indonesian rubber industry official said on Thursday (25/08).
Council members Indonesia, Thailand and Malaysia will reduce their total exports in 2016 by 700,000 metric tons, Indonesian Rubber Association chairman Moenarji Soedargo also told reporters.
Indonesia’s rubber output in 2016 is expected to reach 2.95 million metric tons, below an earlier estimate of 3.1 million metric tons, as a result of the La Nina weather phenomenon, Soedargo said.
Indonesia’s rubber exports this year are expected to slip 6 percent to 2.45 million metric tons from 2.6 million metric tons in 2015, as a result of the tripartite council’s export agreement and lower output, he said.
Reuters
