Producing Nations move to support NR price

ERJ staff report (DS)

Bangkok - Leaders of the countries which produce natural rubber are moving to support the price. The measures were announced by Agriculture ministers on Thursday 16 August.

A report from Bloomberg was quoted on the website of the International Rubber Consortium, In that report, the Thai Deputy Agriculture and Cooperatives Minister Nattawut Saikuar was quoted as saying the main producing nations will cut production by a total of 300,000 tonnes this year. This represents a reduction of around 4 percent in export volumes.

They also agreed to speed up replanting and the cutting down of old trees, which will reduce output by another 150,000 tons this year,. Nattawut said

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