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Natural rubber exports cut from Oct 1
by hlk Fri 31 Aug 2012, 21:30
BANGKOK: Thailand, Indonesia and Malaysia agreed to start cutting natural rubber exports of 300,000 metric tons from Oct. 1.
Sixty
per cent of the target will be withdrawn in the first three months and
the balance in the following three months, the International Tripartite
Council, representing state agencies and exporters in the three
nations, said in a statement today.
The three countries account for about 70 percent of global production of rubber, used to make tires and gloves.
They
also agreed to accelerate cutting aging trees in areas that cover
100,000 hectares (247,105 acres), which will lead to an export
reduction by 150,000 tons, it said.
Rubber futures have dropped 17 per cent this year. -- Bloomberg
Sixty
per cent of the target will be withdrawn in the first three months and
the balance in the following three months, the International Tripartite
Council, representing state agencies and exporters in the three
nations, said in a statement today.
The three countries account for about 70 percent of global production of rubber, used to make tires and gloves.
They
also agreed to accelerate cutting aging trees in areas that cover
100,000 hectares (247,105 acres), which will lead to an export
reduction by 150,000 tons, it said.
Rubber futures have dropped 17 per cent this year. -- Bloomberg
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