PETALING JAYA: The Primary Industries Ministry (MPI) will not implement a floor price for rubber as it will incur high costs and encourage smuggling as global rubber prices see a downturn, the Ministry said in a statement Tuesday (Nov 6).
It said based on 2017 production, if the rubber floor price is set at RM4 per kilogramme from the current price of RM2.20 per kilogramme, it will cost the government RM2.5 bil a year.
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