Thailand boosting rubber exports a concern
Rubber growers and exporters have expressed concern that prices will continue to fall as Thailand seeks to boost its natural rubber exports, industry insider Men Sopheak said.
In March, the International Tripartite Rubber Council (ITRC), which comprises Thailand, Indonesia and Malaysia, agreed to reduce rubber exports by about 240,000 tonnes from late in May to late September to buoy local prices, Reuters reported last week.
The three Southeast Asian neighbours, which produce 70 per cent of the world’s natural rubber, ended up slashing exports by 441,648 tonnes during the period.
Thai Minister of Commerce Jurin Laksanawisit told a conference of reporters and rubber growers on Wednesday that Thailand will boost natural rubber exports to increase incomes for the latter following implementation of the four-month curb agreement, Reuters reported.
