Export curbs may raise natural rubber price, Auto News, ET Auto

KOCHI: Even as declining natural rubber prices have rekindled hopes of revival of imports, the announcement by major global producers to limit exports may push up prices in the coming weeks.

The international rubber consortium, comprising three major rubber producers of Thailand, Indonesia and Malaysia, said it was considering reduction of export volumes to stabilise natural rubber prices.

However, the organisation has not set a time frame to implement it. Together, the three countries account for over 60% of the total natural rubber output in the world.

Natural rubber prices, after reaching a five-year high in Thailand, following a flood there in January-end, has been on the decline since then.

International prices have dropped 25% in over two months and Rs 143kg on Friday stood at Indian natural rubber prices have dropped only 13% in the same period.