ERJ staff report (DS)
Kuala Lumpur - Prof. Dr. Djoko Said Damardjati,?Secretary-General?ANRPC has said he was mis-quoted by journalists when discussing prices and buffer stocks.
The organisation has issued a statement saying:
(1) Neither ANRPC nor any of its Member Country keeps any buffer stock of NR. This being the fact, the possibility of releasing 300,000 tonnes into the market, as pointed out in the news agency's report, was totally baseless. In fact, the global NR industry is currently passing through a situation of tight supply thanks to a progressive decline in production and a rebound in demand. Fundamentals are now highly favourable for NR prices to stay high, if not bullish. ANRPC had stressed this point along with supporting data, in the â€œNatural Rubber Trends & Statisticsâ€ released on 31 December 2009.
(2) Policies pursued in the major NR exporting countries are oriented towards ensuring the best price for NR with a view to protecting the interests of farmers and achieving improved performance in exports. This being the reality, the reported move to put a price cap for NR, is totally incorrect. It may be recalled that these countries did not initiate any such measure even after NR prices reached unprecedented peaks in 2008 touching around 3.5 USD per kg.
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Statement from ANRPC