KOCHI: Even as declining natural rubber (NR) prices have rekindled hopes of revival of imports, the announcement by major global producers to limit exports may push up prices in the coming weeks.
The international rubber consortium, comprising three major rubber producers of Thailand, Indonesia and Malaysia, said it was considering reduction of export volumes to stabilise NR prices. However, the organisation has not set a time frame to implement it. Together, the three countries account for over 60% of the total NR output in the world.
NR prices, after reaching a five-year high in Thailand, following a flood there in January-end, have been on the decline since then. International prices have dropped 25% in over two months and stood at Rs 143 per kg on Friday. Indian NR prices have dropped only 13% in the same period.
