Asia rubber producers to meet next week to discuss supply, prices

Kuala Lumpur – Asian natural rubber producers are to meet on 20 Nov to discuss sustainable supply of natural rubber amid falling prices.

The official website of the International Tripartite Rubber Council (ITRC) announced that the a “ministerial committee meeting” will be held at the IRTC 2014 in Kuala Lumpur.

Participants are to include the Malaysian minister of plantation industries and commodities, Thai minister of agriculture and cooperatives and Indonesia’s minister of trade.

The ITRC (also known as the International Rubber Consortium, IRCo) said the discussions would focus on efforts to firm up cooperation in managing sustainable supply of natural rubber and taking measures to address price volatility.

Also, a special meeting is expected to be held among ministers of the three countries as well as relevant ministers from Cambodia, Laos, Myanmar and Vietnam to discuss cooperation towards remunerative and fair level of rubber price.

As prices stumble downwards, the countries, which account for more than 76 percent of global natural rubber, are expected to consider various options including limiting rubber exports and increasing domestic consumption.