Bangkok (VNA) – Thailand will cut rubber exports by 126,240 tonnes next week for four months after a delay to implement a supply cut agreement with other regional producers, the Rubber Authority of Thailand said on May 16.
Earlier, Thailand planned to cut shipments of natural rubber on April 1 along with Indonesia and Malaysia. The date was agreed by the International Tripartite Rubber Council, made up of the three countries, in March.
Thailand, as the world’s top rubber exporters, delayed the measure because of its general election, and it will cut exports between May 20 and September 19.
Indonesia, Malaysia and Thailand account for some 70 percent of the world’s natural rubber production. They decided for export cutbacks of 240,000 metric tonnes collectively to support prices.-VNA
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