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.