Bangkok – Thailand, Indonesia and Malaysia have agreed to cut back exports of natural rubber by 240,000 tonnes over a four-month period.
Senior officials from the International Tripartite Rubber Council (ITRC) met in Bangkok 4-5 March to work out the details of the cuts, which were announced last month.
The so-called agreed export tonnage scheme (AETS) will be implemented for four months starting 1 April, the countries announced 6 March.
The move is intended to address “the prevailing depressed NR price level,” according to the International Rubber Consortium (IRCo) – ITRC’s operational arm.
The three countries produce roughly 60% of global rubber output of over 12.7 million tonnes.