Thailand will quit INRO

Thu, 05 Nov 1998, 00:00 WIB | Source: REUTERS

BANGKOK (Reuters): Thailand, the world's top natural rubber
producer and exporter, is leaning towards pulling out of the
International Natural Rubber Organization (INRO), a government
minister said on Wednesday.

Deputy Agriculture Minister Somchai Sunthornwat said his
ministry would soon propose to the cabinet that Thailand withdraw
from the agency after it ignored the country's plea to raise
intervention prices to meet bearish market conditions.

"I don't think anyone in the cabinet will oppose the proposal.
I hope not. So far, my fellow ministers and members of parliament
have asked me on several occasions why we should remain in the
organization," he said.

"The proposal will be submitted within this month through the
Natural Rubber Policy Committee," he added.

Malaysia, a major rubber producer, has confirmed it will quit
the organization by Oct. 15 next year.

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