14 October 2014, 15:00 SEAST
Subsequent to the discussion between 5 chairmen of Rubber Trade Associations on previous Friday, 10 October 2014 in Melaka, Malaysia, the Chief Executive Officer of IRCo had an opportunity to meet senior officials/representatives from member Governments of the Association of Natural Rubber Producing Countries (ANRPC) on 14 October 2014 in Kuala Lumpur, Malaysia.
Efforts to improve NR price to fair levels for both producers and consumers were discussed and all parties concerned i.e. representatives from Thailand, Indonesia, Malaysia, Vietnam, India, Sri Lanka, Cambodia, The Philippines and Papua New Guinea were agreeable not to offer NR for sale at lower levels than current price. This action would prevent the smallholders from suffering from further losses as the current price is lower than the cost of production.
– IRCo
