WASHINGTON (Nov. 10)—A Malay-Thai joint venture to purchase the remaining buffer stock of the International Natural Rubber Organization has met twice to discuss how to proceed with the purchase, according to news reports from Southeast Asia. The joint venture will bid on rubber on every selling day announced by INRO, with the operations managers from MARDEC of Malaysia and the Rubber Estate Organization of Thailand overseeing the purchases, said Jim Kong Yak, Malaysian minister of primary industries. Last July, Malaysia and Thailand signed an agreement to buy the INRO rubber and set minimum selling prices for their rubber stocks. INRO said it hasn´t received an bids yet.
Malaysia, Thailand may bidding on INRO buffer stock
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