BANGKOK, May 3 – Thailand, the world’s biggest rubber producer and exporter, is considering discontinuing measures curbing rubber exports upon their expiry on May 31 as they have failed to lift prices, a senior government official said on Friday.
“It is not appropriate for the current situation as prices are largely dominated by external factors and an action of Thailand alone is too small to have an impact on prices,” said Dumrong Jirasutas, head of the Department of Agriculture.
Thailand, Indonesia and Malaysia had agreed to cut exports by a total of 300,000 tonnes. The scheme ended in March, but Thailand alone continued the policy for another two months till the end of May.
Source: Reuters
