Rubber producers to meet in Yogyakarta

Rubber producers to meet in Yogyakarta

The Jakarta Post, Jakarta

Rubber producers grouped in the Association of Natural Rubber
Producing Countries (ANRPC) will gather in Yogyakarta from Nov.
26 to Nov. 27 to discuss the current issues pertaining to
industry and its future, a top official said.

Herry Sutanto, director of multilateral cooperation at the
Ministry of Industry and Trade, was quoted by Antara as saying on
Friday that all ANRPC members would send delegations to the
meeting.

Aside from Indonesia, the members are India, Malaysia, Papua
New Guinea, Singapore, Sri Lanka, Thailand and Vietnam. Thailand
is the world's largest rubber producer, followed by Malaysia and
Indonesia. The three account for around 85 percent of the world's
natural rubber production.

The participants will include government representatives,
businessmen and experts, he said, adding that the meeting would
be opened by Minister of Industry and Trade Rini MS Soewandi.

During the meeting, he said, the participants would discuss
several issues, including production, marketing, research and
development of natural rubber, as well as measures to raise
rubber prices.

Thailand, Malaysia and Indonesia launched a joint program last
August to boost rubber prices, which have been decreasing over
the years.

The program includes a plan to establish a consortium called
the International Trade Rubber Company (ITRCo) with the aim of
purchasing and stockpiling rubber of the three countries to help
shore up prices.

Thailand has agreed to contribute some US$25 million to the
consortium, Indonesia $18.75 million, while Malaysia $12.5
million.

However, Ferry Yahya, director of agricultural and mining
product exports at the ministry, said on Thursday that the three
countries had thus far injected only $1 million each into the
consortium.