Indonesia would reduce export rubber in fourth quarter season

 

Senior industry officer said the world’s second largest rubber produce country Indonesia would reduce export about 10 ten thousand ton rubber in fourth quarter season, in order to against sluggish rubber price with Malaysia and Thailand.


 
The new chairman of Indonesia rubber association told Reuter via phone that the export restriction will continues 3 months or 6 months, in fact it depends on the reaction of market.

 
“We need to work together, because now we are facing the serious situation.” He said the detail of export restriction would be released in next week. Indonesia, Malaysia and Thailand agreed in August to cut rubber trees and decreased 300,000 tons of exports rubber, or 3% of the global production of this year, trying to shore up rubber prices by the downturn of global economic.

 
"We're not sure the rubber price why fell to current levels but t we need to deal with this issue carefully." Bastari said on Thursday, he pointed that CLc1 oil prices rise to $ 96 per barrel could propel rubber price.

 
Making tire grade rubber is currently hovering at its lowest level since 2008, the Tokyo Commodity Exchange (TOCOM)  has suppressed by global economic constitution, Benchmark glue JRUc6 tumbled.