ITRC and the price of rubber
Tripatite International Rubber Council (ITRC) proposed to study the formation of a rubber joint fund in each country adjusted to the prevailing system in the country concerned.
Chairman of the Indonesian Rubber Association Entrepreneur (Gapkindo) Asril Sutan Amir said another agreement at the meeting agreed to extend the third country cooperation extended to the ITRC member countries of Asean Economic Community (AEC).
"The three Ministers believed to strengthen and expand the ITRC to the price of natural rubber for natural rubber producers can be achieved, in order to provide continuity of plant availability and users of natural rubber at a reasonable price," he told Bisnis Indonesia, today.
Recently, Indonesia, Malaysia and Thailand joined in just ITRC meeting in Malaysia.
Another step to be taken to maintain price stability, he said, to welcome the participation of Vietnam in the ITRC as a member with all rights and obligations.
According to him, with the entry of Vietnam, the four countries will increase production of natural rubber from 70% to 76% of the world natural rubber production.
As, from the export side, with the entry of Vietnam became a member of ITRC, it will increase from 84% to 93% of world exports of natural rubber.
According to Asril, ITRC assess the implementation of activities trimming rubber export volume (Agreed Export Scheme Tonage / AETS) has brought the benefits of an increase in rubber prices.
In December 2008, rubber prices fell to US1,1 per kg compared to prices in the period July 2008 US$3.3 per kg as the impact of the global crisis and decreased by 66.15% in six months.
ITRC Asril added value role of member states in the implementation of the AETS has determined not to sell below US$1.35 per kg as of December 31, 2008.
The increase in demand for rubber in the world market, he said, has pushed the average increase of US$1.5 per kg in January 2009 to 2.8 per kg at the end of 2009 prices or there was an increase of 91% during 2009. Currently, per January 2010, natural rubber prices have reached over US$3.0 per kg.
Despite the recession the world has not recovered, he said, emphasize the need ITRC continuously monitor the supply and demand of natural rubber and taking the steps necessary for natural rubber prices are not falling in the near future.
Chairman of the Indonesian Rubber Association Entrepreneur (Gapkindo) Asril Sutan Amir said another agreement at the meeting agreed to extend the third country cooperation extended to the ITRC member countries of Asean Economic Community (AEC).
"The three Ministers believed to strengthen and expand the ITRC to the price of natural rubber for natural rubber producers can be achieved, in order to provide continuity of plant availability and users of natural rubber at a reasonable price," he told Bisnis Indonesia, today.
Recently, Indonesia, Malaysia and Thailand joined in just ITRC meeting in Malaysia.
Another step to be taken to maintain price stability, he said, to welcome the participation of Vietnam in the ITRC as a member with all rights and obligations.
According to him, with the entry of Vietnam, the four countries will increase production of natural rubber from 70% to 76% of the world natural rubber production.
As, from the export side, with the entry of Vietnam became a member of ITRC, it will increase from 84% to 93% of world exports of natural rubber.
According to Asril, ITRC assess the implementation of activities trimming rubber export volume (Agreed Export Scheme Tonage / AETS) has brought the benefits of an increase in rubber prices.
In December 2008, rubber prices fell to US1,1 per kg compared to prices in the period July 2008 US$3.3 per kg as the impact of the global crisis and decreased by 66.15% in six months.
ITRC Asril added value role of member states in the implementation of the AETS has determined not to sell below US$1.35 per kg as of December 31, 2008.
The increase in demand for rubber in the world market, he said, has pushed the average increase of US$1.5 per kg in January 2009 to 2.8 per kg at the end of 2009 prices or there was an increase of 91% during 2009. Currently, per January 2010, natural rubber prices have reached over US$3.0 per kg.
Despite the recession the world has not recovered, he said, emphasize the need ITRC continuously monitor the supply and demand of natural rubber and taking the steps necessary for natural rubber prices are not falling in the near future.
Comments