Thailand, Indonesia and Malaysia to meet in December

Thailand, along with Indonesia and Malaysia, will meet in December to coordinate efforts to boost falling prices of rubber. These three Southeast Asian countries happen to be top producers in rubber producing some 80 per cent of the world’s natural rubber output.

Malaysian plantations minister, Peter Chin, says officials at the three-nation talks will discuss issues related to stockpiling and supply of rubber into the market amid a looming global slowdown. Mr. Chin added that the aim of the meeting is to develop proper stock management, supply and export tonnage. He also says that the global financial crisis might reduce the demand for rubber because there will be less demand for new cars.

Falling world stock markets and fears of a global recession forced Asian rubber futures Friday in Tokyo to sink to their lowest levels in nearly two years.