ANRPC studying potential NR price range

KUALA LUMPUR—The Association of Natural Rubber Producing Countries is studying a mechanism to address the prevailing low natural rubber prices by the introduction of price range for the commodity.

In a March 7 statement, the association said it was conducting an online survey to gather feedback and inputs from rubber stakeholders on the proposed mechanism, known as "sustainable price mechanism (SPM)."

The mechanism, said ANRPC, proposes to introduce a range of minimum and maximum prices for natural rubber through legislations across NR producing countries.

The survey is open March 7 to April 6 and will cover the entire value chain, from upstream to downstream of the industry.

"The mission of the ANRPC is to continuously improve productivity of rubber holdings, reduce cost, increase value addition in downstream sector … and thereby safeguard the livelihoods of rubber farmers," said the association.

The mechanism, it went on to say, will provide a measure to "ensure a healthy and sustainable NR industry."

The ANRPC is an intergovernmental organization established in 1970 with 13 member countries: Bangladesh, Cambodia, China, India, Indonesia, Malaysia, Myanmar, Papua New Guinea, Philippines, Singapore, Sri Lanka, Thailand and Vietnam.

It serves as an international forum for analyzing and formulating policies on matters concerning interests of natural rubber producers in member countries.