BANGKOK—Vietnam, currently the world's third largest producer of natural rubber after Thailand and Indonesia, is to join the International Tripartite Rubber Council.
Current members of the ITRC—Thailand, Malaysia and Indonesia—held a ministerial meeting in Bangkok on Sept. 15 where they agreed the move.
Vietnam previously agreed to join the ITRC in 2015 to help stabilize NR prices and develop sustainable production.
With Vietnam on board, the council will produce up to 80 percent of the world's natural rubber consumption—up from around 70 percent previously.