JAKARTA, Indonesia —Major natural rubber producers Thailand, Indonesia and Malaysia are considering a new round of export cuts to help maintain recent "positive momentum" in the market.
The proposal was discussed by officials of the three countries, meeting under the framework of the International Tripartite Rubber Council Dec. 4-5 in Jakarta.
The meeting also explored possible strategies to ensure price steadiness, according to a news release by ITRC's operational wing the International Rubber Consortium. If implemented, this would mark the seventh round of measures in recent years under the 'agreed export tonnage scheme,' introduced to stabilize NR prices.
In its most recent round of the ITRC initiative, the countries cut exports of the commodity by 240,000 metric tons arlier this year.