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Thailand Indonesia Malaysia halt rubber exports until March

Thailand Indonesia Malaysia halt rubber exports until March

BANGKOK: Thailand Indonesia and Malaysia have pledged to immediately withhold exports of 350,000 tonnes of natural rubber until March under the framework of the International Tripartite Rubber Council’s (ITRC) Agreed Export Tonnage Scheme (AETS).

The International Rubber Consortium Ltd (IRCo) said the pledge was made during the ITRC Senior Officials’ Meeting on December 22, in Bangkok, Thailand, and would be closely monitored by the ITRC Monitoring and Surveillance Committee. “Thailand, Indonesia and Malaysia will also cooperate to increase natural rubber consumption domestically. This includes the use of natural rubber in various sectors such as transport, infrastructure, sports, defence, health and consumer goods, rubberised road construction, rail pads for railway construction, dock fenders and sea tolls, and other suitable areas,” it added.

IRCo also said Thailand, Indonesia and Malaysia were confident that these measures would help natural rubber prices recover.