JAKARTA (Jan 16): A technical team at the International Tripartite Rubber Council has proposed cutting shipments of natural rubber by 300,000 tons this year as part of efforts to improve prices, says Oke Nurwan, director general of foreign trade at Indonesia’s Trade Ministry.
* Indonesian and Malaysian governments have agreed on proposal for combined cut, while Thailand so far hasn’t, he says by phone from Jakarta Wednesday
* Nurwan doesn’t know when ITRC will meet to discuss measures
* Rubber Authority of Thailand says country will need to study details of plan, such as start date, time frame and mechanism, which weren’t clear at meeting last year
** More talks needed before implementation: authority
* Spokesperson at Malaysia’s Primary Industries Ministry unable to immediately comment
* NOTE: Top Rubber Producers Plan to Unveil Measures to Boost Market
** Officials from the three countries were due to gather in Bangkok Jan 19-20