KUALA LUMPUR—Member nations of the Association of Natural Rubber Producing Countries have vowed to renew their efforts to stabilize natural rubber prices during a ministerial-level meeting in Kuala Lumpur.
“The ministers agreed that to stabilize NR prices at the level which is remunerative and sustainable to smallholders and also fair to consumers, coordinated strategic directions and solutions need to be implemented,” ANRPC said in a press release about the May 8 meeting.
Continuing low prices for NR are forcing rubber farmers to find other crops or other jobs, the ANRPC said. But any efforts to stabilize prices have to be compatible with the emerging trends of the world rubber market and the needs of the rubber industry, it said.
The government officials attending the meeting directed the ANRPC to establish an expert group to consider the best ways to stabilize prices, the association said.
Also, the ministers agreed to explore the possibility of establishing a common trading platform for NR, linking the existing systems in the ANRPC member countries, it said.
The ministers agreed to finalize price stabilization plans at the next ANRPC ministerial meeting in October. “This will contribute towards addressing volatile short-term prices and stabilizing long-term NR prices,” the ANRPC said.
Attending the May 8 meeting, according to the ANRPC, were ministers from Cambodia, Malaysia, Sri Lanka, Thailand and Vietnam, as well as senior officials from India, Indonesia, Papua New Guinea and the Philippines. The Malaysian Minister of Plantation Industries and Commodities chaired the meeting, it said.