Delegation to bring up issue of rubber price stability at Thai conference


  • Markets
  • Tuesday, 12 Sep 2017

Mah: 'In ensuring the successful implementation of this sustainability scheme, the Government has set up the Malaysian Palm Oil Certification Council.'

KUALA LUMPUR: Malaysia will bring up the issue of the stability in world rubber prices at the coming International Rubber Tripartite Conference to be held in Bangkok, Thailand this Friday.

In a statement, the Plantation Industries and Commodities Ministry said Minister Datuk Seri Mah Siew Keong would lead the Malaysian delegation to the conference.

The ministry said the issue of volatile global rubber pricing was a huge concern for local industry players which included some 450,000 rubber smallholders.

“It will be the main agenda for the Malaysian delegation,” it said.

He said Malaysia was the fifth largest global producer of natural rubber after Thailand, Indonesia, Vietnam and China in 2016.

Thai Prime Minister General Chatchai Sarikulya and Indonesia’s Trade Minister Drs Enggartiasto Lukita would also be attending the conference.

Mah said the Government, via the Rubber Production Incentive Scheme and the improvement of the infrastructure to boost latex collection, aimed to increase productivity and output of natural rubber in the country. He said the rubber glove industry was also encouraged to use local latex to manufacture their products and reduce imports from neighbouring countries.

The Government has targeted to increase rubber plantation areas by 2020 and the size of the tanned area was also targeted to expand to one million ha compared to 670,000ha currently, he said.

“The Government’s continued efforts through the Malaysian Rubber Board’s research and development and automation are expected to boost productivity rates to two tonnes/ha from 1.2 tonnes/ha to ensure continuous supply of raw materials for industrial use,” he said. — Bernama

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3

Business , Plantation industries , rubber

   

Did you find this article insightful?

Yes
No

Next In Business News

US labor market roars back; full recovery still years away
GLOBAL MARKETS-Wall Street surges on jobs data, global equity markets regain ground
Mesiniaga sees turnaround in 2021 after dismal 2020
HLT Global reports robust growth in profit margins�
Hong Kong arrests 12, seizes US$116mil after stock scam
Axis REIT buys industrial property in Shah Alam
Teladan Setia’s public offer of 40.8m new shares oversubscribed 17.47 times
Beware of frothy SPACs, London Stock Exchange warns investors
Crude oil price surge pushes FBM KLCI above 1,600
Bank Negara forex reserves higher at US$109bil

Stories You'll Enjoy


Vouchers