KL Meet To Find Solution To Fall In World Rubber Prices
Posted Date : February 6, 2015In Global Rubber Market News
KUANTAN, Feb 5 (Bernama) ? Kuala Lumpur will play hosts to eleven ministers from rubber producing countries in May to find a solution to the decline in world rubber prices.
Plantation Industries and Commodities Minister, Datuk Amar Douglas Uggah Embas, said the ministers would find ways to overcome the problem and ensure steady rubber prices in the world market.
?The meeting was initiated by our government to ensure rubber prices remain at a reasonable level and the welfare of rubber planters are taken care of,? he said.
He said this to reporters after attending a briefing on the Rubber Transaction Permit Authority (PAT-G) at the Malaysian Rubber Board here Thursday.
Uggah hoped that the cooperation among the countries could also help alleviate problems faced by Malaysia, including the decline in rubber output.
?Last year, the rubber output was targeted at 800,000 tonnes but dropped to 680,000 tonnes due to falling rubber prices and floods in the East Coast states in December last year,? he said.
Uggah said the fall in rubber prices also forced rubber planters to switch to other sectors to make ends meet.
?We introduced the Rubber Manufacturing Incentive to encourage rubber planters to continue tapping if rubber prices fall below RM4.60 per kg,? he said.
Malaysia would continue to work with Thailand, Vietnam and Indonesia to ensure that the rubber prices were maintained at a reasonable price, he said.
? BERNAMA
