Farmers load rubber sheets onto a truck to sell them at a market in Phanom district, Surat Thani (Photo: Bangkok Post)
Hanoi (VNA) 🐼– Thailand,the world’s largest rubber producer, is coordinating with Malaysia andIndonesia to reduce rubber supply in order to stabilise prices.
The three countries, which account for around 70 percent of theworld's natural rubber supply, recently held a meeting to find ways toensure the price stability and increase domestic demand for natural rubber,said Titus Suksaard, Chief of the RubberAuthority of Thailand on April 23. Stabilising rubber price issignificant when the price keeps swinging, Suksaard noted, adding that Thailand’ssupply has not recovered from last year’s severe flood in the southern region whilerubber farmers in India and Indonesia reduced rubber output.
He also said rubber prices should be at least 20 percent more thanproduction costs. The current price of rubber in Thailand is 1.8 USD perkilogram while production cost is 1.4 USD per kilogram.
Growth of the global automobile industry averaging 7.37 percent peryear is a major element to boost rubber prices, he added.
Thailand has approved to extend a rubber price subsidy programme worth 20billion THB (about 600 million USD) and loan packages totalling 10 billion THB(29 million USD) to help private rubber processing operators continueproduction.
Malaysia, Indonesia and India have also implemented policies to reducerubber plantation to bolster market prices.
📖 The rubber bodies among the three countries will popularise informationof rubber markers to avoid rubber speculation. - VNA
Thailand will purchase 200,000 tonnes of rubber directly from growers in its southern provinces at up to 60 THB (1.65 USD) per kilo to provide assistance for the farmers suffering from the price slump
Thailand, Indonesia and Malaysia have agreed to cut exports of natural rubber by 615,000 tonnes for six months from March to reduce supplies and increase prices that are trading near six-year lows.
Indonesia’s rubber exporters have agreed to cut their exports from March to August 2016 to realise the International Tripartite Rubber Council (ITRC)’s Agreed Export Tonnage Scheme (AETS).
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Farmers load rubber sheets onto a truck to sell them at a market in Phanom district, Surat Thani (Photo: Bangkok Post) 
