THAILAND is set to propose another year extension on reduction in shipments from top suppliers to prevent price shortfalls.
Thailand, along with Indonesia and Malaysia , represent about 70% of global output.
According to Thailand’s Deputy Farm Minister Yuttapong Charasathien, the three top producers completed the 300,000 tonnes of export cuts they announced last year and removed aging trees.
Meanwhile, Chaiyos Sincharoenkul, President of the Thai Rubber Association noted that the reduction in exports may have boost the price temporarily , but more measures are still called for to ensure long-term price stability.