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Steps to stabilize NR prices

The Malaysian government is cooperating with key natural rubber (NR) producing countries, Thailand and Indonesia, to stabilize the supply and demand of NR in the world market.      

At a question & answer session held at Dewan Rakyat, Deputy Minister of Plantation Industries and Commodities, Senator A.Kohilan, said the cooperation among the three major producers supplying over 80% of the world’s NR, has resulted in positive sentiment on the price.  Under the supply Management Scheme, the three have agreed to control their exports in the long run to bring about a better balance between supply and demand to stabilize the price.

In reply to a question from Datuk Wan Abd Rahim Wan Abdullah (PAS-Kota Bharu) on the steps taken by the government to ensure high NR price in the world market, Mr.Kohilan said in the event of an abrupt fall in the price, the three countries had agreed to reduce exports in the short term through the Agreed Export Tonnage Scheme and further added that the ministry has also implemented various programmes to increase the earnings of the smallholders.

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