Thailand to quit ATPC

Thailand to quit ATPC

BANGKOK (Reuter): Thailand plans to inform the Association of Tin Producing Countries (ATPC) in October of its decision to quit the eight-member group, a Thai official said yesterday.

The official from the Department of Mineral Resources said Thailand's fast growing tin consumption in the past few years had changed its status from a major producer to a net importer.

He said Thailand's withdrawal from the ATPC, subject to approval by the Thai cabinet, would take effect at the end of the year.

"It does not make much sense for Thailand as a net consumer to remain in the ATPC which originally was formed to promote tin prices," he said.

ATPC groups Thailand, Malaysia, Indonesia, Australia, China, Nigeria, Zaire and Bolivia.

ATPC members are due to meet in Singapore in September where they are expected to debate whether to maintain annual production and export quotas for the group's members.

Thai tin concentrate output fell to 1,587 tons in 1995 from 2,830 in 1994 and 14,471 in 1990. Its tin concentrate consumption rose to 5,447 tons last year from 4,907 in 1994 and 2,743 in 1990.