Announcement

Collapse
No announcement yet.

Rubber Price

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Rubber Price

    Three Countries Team Up To Help Stop Decline In World Rubber Price

    ALOR GAJAH, Dec 13 (Bernama) -- Malaysia, Indonesia and Thailand are intensifying their efforts to help stop the decline in world rubber price which is affecting their economies and planters.

    Plantation Industries and Commodities Minister, Datuk Amar Douglas Uggah Embas, said one of the measures suggested was to ensure production did not exceed the current world rubber request.

    "The control in production can be the controlling factor of rubber price based on the supply and demand theory where high supply can cause the rubber price to fall and vice-versa," he told reporters after attending a dialogue between rubber planters in Machap Bahru here Saturday.

    Uggah suggested that the Association of Natural Rubber Producing Countries (ANRPC) members hold a ministerial-level meeting and make a effective decision on the world rubber price.

    "The 11 ANRPC nations contribute 95 per cent to the world's natural rubber supply and if we all worked together, it would make a big impact in handling the issue," he said.

    Uggah said ANRPC is also looking at new ways of using natural rubber to increase its demand.

    "One of the ways is in Thailand where rubber is used as one of the materials for making roads which they have succeeded and Malaysia is expected to follow suit," he said.

    Uggah said the government came up with the rubber production incentives for smaller-scale rubber planters following the decline in rubber price.

    "There will be a cabinet committee to help planters ease their burden. We will have meetings to find out to what other things we can do for them but our main hope is that the rubber price goes up and the planters make profit.

    "The government allocated RM100 million for the rubber production incentive fund in the 2015 Budget which will be implemented on Jan 1 next year," he said.
    http://thailandchatter.com/showthrea...ll=1#post45112

  • #2
    Top Asian rubber producers to curb exports next month after price fall
    Patpicha Tanakasempipat and Panarat Thepgumpanat
    (Reporting by Patpicha Tanakasempipat and Panarat Thepgumpanat in BANGKOK; Additional reporting by Bernadette Christina Munthe in JAKARTA; Editing by Susan Fenton)

    BANGKOK, Nov 30 (Reuters) - Asia's top rubber producers have agreed to cut exports of natural rubber from next month in a bid to address declining global prices.

    The International Rubber Consortium (IRCo) announced the decision on Thursday after the International Tripartite Rubber Council (ITRC) - consisting of Thailand, Indonesia and Malaysia - met on Wednesday in Thailand's northern capital of Chiang Mai to discuss concerns over falling prices even though oversupply has recently eased as bad weather hit production.

    Thailand, Indonesia, and Malaysia produce nearly 70 percent of the world's natural rubber.

    "The three ITRC member countries will restrict exports of natural rubber for a specific timeframe with the objective of addressing the current declining trend on natural rubber prices," IRCo said in a statement on Thursday.

    The price of Thai benchmark RSS3 rubber <RUB-RSS3C-BKK> has fallen 47 percent since the end of January amid oversupply and slowing demand from China, the United States, and Japan, according to the Rubber Authority of Thailand.

    Benchmark Tokyo rubber futures also hit a five-month low earlier this month.

    The export cuts will start in the middle of December but IRCo did not specify the volume of export cuts or how long the scheme would last.

    The council did agree on an initial volume but it cannot yet be revealed, as officials from each country will need to first seek approval from their respective ministries, a source at the Rubber Authority of Thailand told Reuters.

    "The officials will meet again in Bangkok on Dec. 13 to finalize the volume. If they all agree, it will be announced on that day, and the measure will be implemented on Dec. 15," the source said.

    The measure is necessary ahead of forecast bad weather that will hurt rubber production, said Moenarji Soedargo, chairman of the Indonesian Rubber Association (Gapkindo).

    "Because these days, it's far too oversold, so that the price doesn't reflect the fundamentals properly," Soedargo told Reuters.

    "AETS (Agreed Export Tonnage Scheme) is considered as the right measure to re-align the price," he added, referring to the scheme's official name.

    This will be the fifth time since 2012 that the ITRC has agreed to implement the scheme to rescue falling prices.

    cnbc.com
    http://thailandchatter.com/showthrea...ll=1#post45112

    Comment


    • #3
      It'll rebound
      The world is round but the universe is flat.

      Comment

      Valentina Jewels gets pounded like a btich dog ?????? ??????? ????????? ???????? ???? diferentes tipos de bajinas
      antalya escort bayan
      Working...
      X