Malaysia, Indonesia, Thailand to stabilise rubber prices
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Malaysia, Indonesia, Thailand to stabilise rubber prices

Economy, Vietnam, Vietnam Finance News

VNA
Tuesday, July 18, 2017 – 11:28:00 Print

Malaysia, Thailand and Indonesia are considering cutting rubber exports by 10-15 percent to curb falling prices (Source: thestar.com.my)

Kuala
Lumpur (VNA) –
Malaysia, Thailand and Indonesia are considering
cutting rubber exports by 10-15 percent to curb falling prices, according to
Malaysia’s Bernama news agency. 


Malaysia’s
Plantation Industries and Commodities Minister Mah Siew Keong said on July 17
that the International Tripartite Rubber Council, comprising Malaysia,
Indonesia and Thailand, would meet in Bangkok, Thailand, on
September 15 to discuss measures to stabilise rubber prices. 

Mah
said a draft memorandum on the rubberised road between Malaysia, Indonesia and
Thailand would  be prepared at the meeting to increase demand and usage of
rubber. 

He
underlined the need to look after the interests of 450,000 rubber smallholders
and ensure that rubber prices remain stable.

Citing
examples, he said the SMR 20 rubber prices in Malaysia dropped from 957RM (about
223 USD) per kg in January to about 626 RM per kg in July this
year.  

The
fluctuation of rubber prices was due to the declining demand for the commodity,
especially from China, Mah said.-VNA

QBCA

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