MALAYSIA, Indonesia and Thailand are intensifying efforts to stop the decline in global rubber price that is affecting their economies and planters. Plantation Industries and Commodities Minister Datuk Seri Douglas Uggah Embas said one of the measures was to ensure production did not exceed demand. “The control in production can be the controlling factor of rubber price based on supply and demand, where a high supply can cause the rubber price to fall and vice versa,” he said after a dialogue between rubber planters in Machap Baru here yesterday. Uggah suggested that the Association of Natural Rubber Producing Countries (ANRPC) members hold a ministerial-level meeting and make a decision on the world rubber price. “The 11 ANRPC nations contribute 95 per cent of the world’s natural rubber supply and if we worked together, it would make a big impact in handling the issue.” Uggah said ANRPC was looking at new ways of using natural rubber to increase demand. “One of the ways is in Thailand, where rubber is used as one of the materials for making roads, and Malaysia is expected to follow.” Uggah said the government came up with rubber production incentives for small-scale rubber planters following the decline in price.
Posted on: Mon, 15 Dec 2014 07:46:50 +0000
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