
Originally Posted by
jamescollister
The next cure, for the farmers consumption, we care and have a plan.
MEDIA STATEMENT
BY THE INTERNATIONAL TRIPARTITE RUBBER COUNCIL MINISTERS ON THE IMPLEMENTATION OF THE AGREED EXPORT TONNAGE SCHEME
We, the Minister of Agriculture and Cooperatives of the Kingdom of Thailand, Minister of Trade of the Republic of Indonesia and Minister of Plantation Industries and Commodities of Malaysia, under the International Tripartite Rubber Council (ITRC), express concern on the recent trend in declining Natural Rubber (NR) prices which has a direct effect on the income of rubber smallholders in our three countries.
The Governments of Thailand, Indonesia and Malaysia hereby agree to implement the Agreed Export Tonnage Scheme (AETS) beginning 1 March 2016. Under the AETS, the three countries will withdraw exports of 615,000 tonnes of NR for the period of 6 months from 1 March – 31 August 2016.
In addition to address the oversupply of NR, we also agree to increase domestic consumption of NR. These include the use of NR for road construction, rail pads for railway construction and other suitable areas.
We are optimistic with joint implementation of these measures, the rubber price will recover and continue to be fair and remunerative to all smallholders and other stakeholders in the NR industry. This implementation will be closely monitored by the ITRC Monitoring Committee.
Released by:
ITRC Secretariat, Bangkok, Thailand, 4 February 2016
How are they going to do this, private companies have supply contracts, they need to sell on the open market [auctions] as well. Stop them and they go broke, or they stop buying off the farmers, why buy if you can't sell. Another sound bite with no meaning, add to that, March is the start of trees dormant period, rubber in stock/warehoused will have already been sold for delivery during that period.
Governments needs to stop trying to talk things up, 5 star hotel meetings on expenses, can't change the markets.