Bangkok – Members of the International Tripartite Rubber Council (ITRC) - Thailand, Indonesia and Malaysia – have reported a double-digit decline in natural rubber (NR) production levels, due in part to an outbreak of leaf fungal disease.
In a 6-Nov meeting, ITRC members noted that their combined NR production for the first half of the year fell 10.6% to 492 kilotonnes (kt), compared to the same period in 2018.
By contrast, non-ITRC members such as Vietnam, Ivory Coast and Cambodia increased production by 11.56% to 106kt for the period, said a statement by IRTC operational arm International Rubber Consortium (IRCo).
“In 2019, there is a high possibility that the estimated NR production for ITRC Member Countries reduce by as much as 800kt,” the IRCo statement added.
In addition to the production declines, ITRC member states implemented the 6th agreed export tonnage scheme (AETS) earlier this year, with an eye to curbing exports by 240kt over a three-month period, starting April.
The trio, however, said they reduced exports by 441,648 tonnes during the period, adding that there were no ‘hanging’ stock to be released to the market pursuant to the implementation.