The price of natural rubber is expected to rise in the international market at the end of this year
Time of Release：
Recently, Indonesia's Deputy Minister of Trade Bayu said that the current major rubber producers will work together to control the decline of rubber prices, and strive to stabilize the rubber price by the end of this year. Affected by the weak market demand in the United States and Europe, the international rubber price continues to decline, and the international rubber price fell to 2.5 dollars per kilogram at the end of this year. Thailand, Indonesia and Malaysia, members of the International Tripartite Rubber Council (ITRC), agreed to reduce rubber exports by 300,000 tons for six months from October this year in order to curb the drop in global rubber prices. In mid-December, the three countries will hold a ministerial meeting in Bangkok, Thailand, to further implement relevant arrangements on production reduction and export. Mr Bayu believes rubber prices, while still volatile, will stabilise at between $3 and $3.50 a kilo by the end of the year.