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Saturday, September 5, 1998

Three-day meet of rubber producers 

REUTERS  
Bangkok, Sept 4: Rubber producers will meet from September 7-9 in Kuala Lumpur to further discuss backup measures to prop up prices in the wake of an uncertain future facing the International Natural Rubber Organisation (INRO).

A Thai agriculture ministry official said on Friday the meeting would follow-up on an Association of the Natural Rubber Producing Countries (ANRPC) gathering in Bangkok last month, where members endorsed ideas on alternative measures to INRO.

Kuala Lumpur-based INRO groups the world top producers and consumers. But its future looks shaky as Malaysia has confirmed its intention to leave the grouping and the world's top producer Thailand is also considering withdrawal.

ANRPC groups Thailand, Indonesia, Malaysia, Singapore, Sri Lanka, India, Papua New Guinea and Vietnam.

"We will discuss the real production of our members and the world's marketing mechanism in the first two days," said the ministry official who declined to be named.

"And the executive committee will meet on thethird day of the meeting to conclude all details and prepare to propose them to a ministerial-level meeting to be held in Vietnam in November," he said.

Thailand has said it considered INRO as being unhelpful to producing countries but the issue of whether it will withdraw from the grouping would have to be decided by the cabinet.

The country is expected to present its proposal, which calls for producing countries to keep rubber supply at around 20 percent below world demand, and set a buffer stock holding capacity of around 250,000 tonnes at the meeting.

Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.


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