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ITRC (International Tripartite Rubber Council) members, Thailand, Indonesia and Malaysia, will have another conference in Bangkok on September 15 to discuss the plan for rubber output reduction. According to sources, 10%–15% of rubber output is planned to be reduced, in order to stimulate the rubber prices. The main reason for the rubber price decline is the low demand, especially the low demand for NR in China. Thus, the three countries want to control the NR supply volume. Besides, the conference will also discuss the rubber export quota limitation policy, a complementary measure for supporting the rubber prices.
During the press conference in Putrajaya, Malaysia, Datuk Seri Mah Keong, Minister of Commerce Department, showed that the total enforceable output reduction of the three countries would be 10%–15%. The members shall prepare their memos of the drafts on output reduction. They shall also enlarge the domestic demand and usages within their countries. They will try to reach a consensus on increase the NR utilization in road construction. He also expressed that the conference would take care of the interest and concerns of 450,000 owners of small rubber plantations. To improve and stable the rubber prices will be a theme for the ITRC conferences.
- sci99.com
