Bangkok – The governments of Thailand, Malaysia and Indonesia, members of the International Tripartite Council (ITRC), have started a cut in exports of natural rubber.
In a 22 Dec statement, ITRC’s operational arm the International Rubber Consortium (IRCo) said the trio would cut NR exports by 350,000 tonnes between 22 Dec and 31 March.
Dubbed the agreed export tonnage scheme (AETS), the plan will be implemented through each country’s respective domestic regulators. It will include addressing business commitments under existing forward contracts.
The AETS move follows through on…