{
    "success": true,
    "data": {
        "id": 1083334,
        "msgid": "rubber-meeting-proposes-floor-price-supply-cuts-1447893297",
        "date": "2001-12-12 00:00:00",
        "title": "Rubber meeting proposes floor price, supply cuts",
        "author": null,
        "source": "DJ",
        "tags": null,
        "topic": null,
        "summary": "Rubber meeting proposes floor price, supply cuts Dow Jones, Bali Senior officials from the world's top natural rubber producers have proposed a floor price for the commodity at or near which reductions in output and exports will be enforced, an Indonesian official told Dow Jones Newswires Monday evening. Restrictions to output and exports will be lifted only when physical prices recover to a \"reasonable level,\" said Suharto Honggokusumo, executive director of the Rubber Association of Indonesia.",
        "content": "<p>Rubber meeting proposes floor price, supply cuts<\/p>\n<p>Dow Jones, Bali<\/p>\n<p>Senior officials from the world's top natural rubber producers<br>\nhave proposed a floor price for the commodity at or near which<br>\nreductions in output and exports will be enforced, an Indonesian<br>\nofficial told Dow Jones Newswires Monday evening.<\/p>\n<p>Restrictions to output and exports will be lifted only when<br>\nphysical prices recover to a \"reasonable level,\" said Suharto<br>\nHonggokusumo, executive director of the Rubber Association of<br>\nIndonesia.<\/p>\n<p>\"We have proposed the reference prices, the price range...The<br>\nobjective is to reach a level that is remunerative for (rubber)<br>\nfarmers,\" said Suharto.<\/p>\n<p>He refused to say what the price range was.<\/p>\n<p>Suharto is part of a team of Indonesian rubber officials who<br>\nattended a task force meeting in Bali Monday, to discuss plans to<br>\nform an International Tripartite Rubber Council, or ITRC, to help<br>\nshore up rubber prices at all-time lows. The other two parties<br>\ninvolved are Thailand and Malaysia.<\/p>\n<p>A senior officials meeting is taking place Tuesday to finalize<br>\ndetails of the plans, prior to a ministerial meeting Wednesday<br>\nthat is expected to approve the plans.<\/p>\n<p>Under the tripartite agreement, Thailand, Indonesia and<br>\nMalaysia intend to cut rubber output by 4 percent and exports by<br>\n10 percent starting next year to help boost prices.<\/p>\n<p>So far, Thai and Indonesian officials have announced<br>\nintentions to replant rubber plantations in efforts to control<br>\noutput. As rubber trees can't yet be tapped in the seven years<br>\nafter replanting, stocks are expected to decline during that<br>\nperiod.<\/p>\n<p>Standard Indonesian rubber 20 grade is currently priced at<br>\n46.3 U.S. cents a kilogram, free-on-board for the January<br>\nshipment, down from around 63 U.S. cents per kg at the same time<br>\nlast year and around 77 U.S. cents per kg two years ago.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/rubber-meeting-proposes-floor-price-supply-cuts-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}