Thailand to Propose Extending Rubber Export Cut Another Year
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Thailand, the biggest rubber producer, will propose extending a reduction in shipments from top suppliers for a further year to curb a price slump, said Deputy Farm Minister Yuttapong Charasathien. Futures climbed.
Thailand, Indonesia and Malaysia, which represent about 70 percent of global output, have completed the 300,000 metric tons of export cuts they announced last year and removed aging trees, said Yuttapong, who is in charge of the nation’s rubber policy. The countries will meet in Phuket on April 10-12 to discuss the Thai plan, he said in a phone interview.