Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Commodities  >  London Caoutch.       

LONDON CAOUTCH.

SummaryChartsNews 
News SummaryAll news

Thailand to cut rubber exports next week after delay

share with twitter share with LinkedIn share with facebook
share via e-mail
0
05/16/2019 | 05:47am EDT

BANGKOK (Reuters) - Thailand will cut rubber exports by 126,240 tonnes next week for four months after a delay in implementing a supply cut agreement with other regional producers, the country's state rubber agency said on Thursday.

Thailand was supposed to cut exports of natural rubber on April 1 along with Indonesia and Malaysia, the date agreed by the International Tripartite Rubber Council (ITRC), made up of the three countries, back in March.

The three countries account for about 70 percent of the world's natural rubber production and decided for export cutbacks of 240,000 metric tonnes collectively to support prices.

But Thailand, the world's top rubber exporter, delayed the measure because of its general election in March, and will cut exports between May 20 and Sept. 19, the head of the Rubber Authority of Thailand said.

"Thailand will proceed as agreed by the three countries, and will assess results every month," Yium Tavarolit, acting governor of the authority told Reuters.

"If prices don't move, then we have to review the measure."

The step follows an agreement by the ITRC in late 2017 to cut natural rubber exports by 350,000 tonnes for three months.

Besides curbing exports, the group also agreed to try to significantly ramp up the domestic use of rubber in each of the three producers through developments such as rubberised roads.

(Reporting by Panarat Thepgumpanat; writing by Patpicha Tanakasempipat; editing by Christian Schmollinger)

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on LONDON CAOUTCH.
05/24China Shanghai Rubber Futures Closing Prices, Volume
DJ
05/23China's top rubber producer suspends tapping at some plantations amid drought
RE
05/23China Shanghai Rubber Futures Closing Prices, Volume
DJ
05/22China Shanghai Rubber Futures Closing Prices, Volume
DJ
05/21China Shanghai Rubber Futures Closing Prices, Volume
DJ
05/20China Shanghai Rubber Futures Closing Prices, Volume
DJ
05/17China Shanghai Rubber Futures Closing Prices, Volume
DJ
05/16Thailand to cut rubber exports next week after delay
RE
05/16China Shanghai Rubber Futures Closing Prices, Volume
DJ
05/15China Shanghai Rubber Futures Closing Prices, Volume
DJ
More news
Chart LONDON CAOUTCH.
Duration : Period :
London Caoutch. Technical Analysis Chart | MarketScreener
Full-screen chart