Representatives from member countries of the International Tripartite Rubber Council (ITRC) of Thailand, Indonesia and Malaysia agreed to cut natural rubber production up to 800,000 million tons (MT) this year, said the organization yesterday (6/11).
ITRC reported in the first half (1H) of 2019, total actual export of three countries reached 441,648 MT, which is larger than the targeted cutback of 240,000 MT. In the same period, the gross natural rubber export for the member countries was 492,000 MT, 10.60 percent lower than the same period in 2018.
The ITRC, in a statement, did not specify how much the three countries expected to export or produce in 2019. While, the gross export for other producing countries particularly in Viet Nam, Ivory Coast and Cambodia increased around 106,000 MT (11.56%).