VIVAnews - Indonesia, Malaysia and Thailand, who came together in the International Tripartite Rubber Council (ITRC) agreed to decrease natural rubber exports as of 1 January 2009 by 700,000 tons.
Total rubber export decrease is predicted to reach 915,000 tons or 16 percent compared to total export in 2007 with 5.5 million tons. The reduction of 700,000 tons will be through Agreed Export Tonnage Scheme program and another 215 thousand tons decrease will be from reinvestment through management scheme supply.
Deputy Secretary General I of Malaysian Ministry of Plantation Industries and Commodities, Nurmala binti Abdul Rahim, after the 14th ITRC meeting in Lido, Bogor, West Java, said on Saturday, Dec 13, that the decrease of export is caused by world's declining demand of rubber.
As a comparison, rubber exports of three countries in 2007 reached 5.5 million tons, with Thailand, 2.7 million tons, Indonesia, 2.4 million tons and Malaysia, 0.4 million tons.
"The policy to reduce the volume of exports is to help farmers who export natural rubber to maintain more profiting prices," said Nurmala.
Export restriction is to begin in the first quarter of 2009 and will be evaluated and examined continuosly through the second quarter.
ITRC also urges that natural rubber not be released under US$1.35. Today, the average price is slightly above US$1.35 per kilogram.
For example, Rubber Association of Indonesia (Gapkindo) has urged that rubber is not released under US$1.35 per kilogram. Similar position was also taken by the Thai Rubber Association and Federation of Rubber Trade Association of Malaysia.
Translated by: Bonardo Maulana Wahono
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