The three major rubber producing countries to reduce Scheme next year 915,000 tons of rubber exports

It is reported that last Saturday, the world's three major rubber producing countries to reach an agreement next year plans to reduce rubber exports 915,000 tons, and plan international rubber prices rebound from the current location of less than 25% prior to the ban on more sales of rubber.

Thailand, Malaysia, Indonesia, the world's three major rubber producing countries, and its rubber production accounts for about 70 percent of global production. From July this year, affected by the global economic downturn, cars, tire industry demand for low impact, the National Rubber prices have fallen substantially. In response to the Jiaojia down, the three major rubber producing countries in November has already announced production cuts of 210,000 tons, although the above-mentioned plans to cut down the Jiaojia difficult to stop.

Since mid-July, the Ministry of Industry Tokyo Stock Exchange rubber futures prices from 350 yen / kg last Friday fell to the 103 yen / kg, or up to 70%. In the face of such serious situation, the three major rubber producing countries to cut again last week decided to reduce rubber exports in the next year 915,000 tons, and 1.35 U.S. dollars / kg (equivalent to the current level of 125%) below the sales price. In 2007, the three countries exported a total of 5,500,000 tons of rubber, production of about 7,000,000 tons.

Malaysia and the cultivation of foreign news quoted the former Secretary-General of the Ministry of Industry Nurmala Abdul Rahman as saying: "We will first start in January next year in the implementation of the latest measures, only two weeks away, so we hope to begin Jiaojia up."

By the three major rubber producing country plans to reduce the impact on exports, and yesterday the international and domestic rubber futures prices rose sharply emerged. Shanghai Futures Exchange, the main natural rubber price of the contract period 0903 to 9700 yuan trading at / ton.