Thailand expected to delay start of cuts in rubber exports due to election
JAKARTA, March 25 (Reuters) - Thailand, the world's top
natural rubber producer, will delay the start of planned curbs
on exports of the commodity by over a month due to the general
election in the country, officials from two other nations that
are also making cuts said on Monday.
Thailand, Indonesia and Malaysia, which together form the
Tripartite Rubber Council (ITRC), had earlier this month said
they would cut rubber exports by a total of 240,000 tonnes for
four months from April under the so-called Agreed Export Tonnage
Scheme (AETS), looking to boost flagging prices.
However, officials from Indonesia and Malaysia on Monday
said Thailand would be delaying the start of its four months of
cuts until May 20 due to the election that took place there the
day before, its first since a 2014 coup.
They did not specify why the election was delaying the cuts,
while Thailand was yet to officially confirm the move.
"According to an agreement at a senior official meeting,
implementation (of AETS) by Indonesia and Malaysia will start on
April 1, and Thailand will start on May 20," Kasan, head of the
Trade Policy Analysis and Development Agency at Indonesia's
trade ministry, told Reuters.
A source at Malaysia's primary industries ministry confirmed
the information from Indonesia.
Indonesia's cuts are expected to account for 98,000 tonnes
of the total. It is unclear how Thailand and Malaysia will
divide the rest of the curbs.
(Reporting by Bernadette Christina Munthe in JAKARTA, Emily
Chow in KUALA LUMPUR; Writing by Fransiska Nangoy; Editing by
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