Jakarta – Major natural rubber (NR) producers Thailand, Indonesia and Malaysia are considering a new round of exports cuts to help maintain recent “positive momentum” in the market.
The proposal was discussed by officials of the three countries, meeting under the framework of the International Tripartite Rubber Council (ITRC) on 4-5 Dec in Jakarta.
The meeting explored possible strategies to ensure price steadiness, said a 5 Dec release by ITRC’s operational wing the International Rubber Consortium (IRCo).
If Implemented, this would mark the seventh round of measures in recent years under the ‘agreed export tonnage scheme’ (AETS) – introduced to stabilise NR prices.
In its most recent round of the ITRC initiative, the countries cut exports of the commodity by 240,000 tonnes earlier this year.