Buffer stock fate still in limbo as INRO meeting ends

KUALA LUMPUR, Malaysia (July 21)—The International Natural Rubber Organization ended its July 18-20 council meeting with no consensus on what to do about its buffer stock, INRO officials said. The 20-year-old rubber price stabilization group has been stymied in its attempt to liquidate its 138,000-metric-ton stock because its break-even price of 71 U.S. cents per kilogram is well above current world prices. Member countries that produce NR are urging INRO to lower its price, but the council insists its mandate is to achieve a reasonable profit for INRO members. The council´s next scheduled meeting is Oct. 9.