LONDON (Sept. 10)—Ministers from Thailand, Indonesia and Malaysia, hoping to revive prices for natural rubber, have agreed to restrict supplies of NR to the world market through 2003. The countries' combined output will be reduced by 4 percent in each of 2002 and 2003, while exports will be reduced by 10 percent in 2002, compared with 2001, the ministers said in a prepared statement. The plan is set to begin Jan. 1, 2002. The total cutback would amount to about 155,000 metric tons in 2002 and 200,000 tons in 2003, according to the statement issued at the ministerial meeting of the Tripartite Rubber Corp., a body set up last year by the three nations to manage production, stocks and trade in the hope of affecting prices. NR prices are in the 50 cent per kilogram range, their lowest level in more than 30 years. The three countries represent nearly 80 percent of the world's natural rubber production.
Tripartite Rubber Corp. agrees to reduce NR output
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