KUALA LUMPUR: Rubber groups from the world’s top producing countries will refrain from selling below current prices and take steps to shore up rates from five-year lows as demand weakens for the commodity used in tires.
A meeting of industry officials from Thailand, Indonesia, Vietnam, Malaysia and Cambodia and the International Rubber Consortium resolved to improve prices to a fair level for producers and consumers, the group said in a statement on website. They gathered in Malacca on Oct 10.
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