Representatives from Thailand, the largest producer of rubber in the world, will meet up with officials from Indonesia and Malaysia to discuss strategies on stabilising the rubber prices, said Yuthapong Charassathien, Thai Deputy Agriculture Minister. The meeting of the three country representatives, which produce 70% of global output, will be held in December.
Looking back, the three countries had an agreement to cut the global export by 3% to prop up the rubber prices, but the strategy since then has not had much impact. The scheme only had little impact on the prices of rubber, which have dropped below 80 baht, the target price of rubber since late October. (RJA)