( Update: 25/11/2014 )
Minister of Agriculture of Thailand Pitipong Puengboon na Ayudhya will meet with his counterparts from Indonesia and Malaysia in Kuala Lumpur on June 20/11 to come to consensus on rubber prices, recent sharp decline due to increased exports.
Although the compromise reached earlier, but in recent years in Thailand, Indonesia and Malaysia are still several very fierce rivalry in cutting the price of rubber. Three Southeast Asian countries provide 70% of the rubber to the world market.
According to an official at the Ministry of Agriculture and Agricultural Cooperatives of Thailand, representatives from Cambodia, Laos, Myanmar and Vietnam will also attend this meeting.
The total rubber production in the three countries of Indochina (Vietnam, Laos and Cambodia) can not be compared to the output of the three "big rubber production," the world is Thailand, Indonesia and Malaysia - with more than 7 million tons / year. Private Thailand a world leader in the production of rubber, with 3.3 million tons / year.
On the Thai market, rubber is traded for $ 1.5 USD / kg, whereas on the world market, rubber prices may reach 2.1 to 2.4 USD / kg.
The official said: "Only when the rubber-producing countries of the world key" hand ", rubber prices on the world market may begin to increase in early January, and continued to rise during the 2015. Predicting rubber prices will increase $ 2.4 / kg at the end of 2015. "
The "Yes or no," and "How to Tripartite Rubber Council International (ITRC - including Thailand, Indonesia and Malaysia) agreed sale price of rubber in the context of all previous attempts have failed "still very difficult to predict.
Previously, ITRC agreed each member country would cut about 300,000 tonnes per year. Measures are expected to affect around 850,000 households rubber production in Thailand and each household will be compensated $ 30.3 / ha of rubber plantation.
However, the rubber growers in southern Thailand has opposed the plan and asked the government to increase the level of compensation. /.
According to Vietnam +
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