Press Release - 8 Feb 2018 - Thailand Indonesia Malaysia Agreed Export Tonnage Scheme

The International Tripartite Rubber Council (ITRC) comprising Thailand, Indonesia, and Malaysia are serious on the implementation of AETS during a three month period from January – March 2018.

H.E. Mr. GrisadaBoonrach, Minister of Agriculture and Cooperatives (MOAC), Thailand, stated that Thailand is the biggest producer and exporter of natural rubber (NR) in the global market. Due to depressed NR prices, Thailand, Indonesia, and Malaysia agreed to jointly implement the AETS with a total export cutback of 350,000 MT. The implementation of AETS by ITRC will immediately decrease NR supply in the global market and have a positive impact on NR prices.

In the implementation of AETS, ITRC member countries will be governed by the following: (1) Thailand will be governed by the Rubber Control Act B.E. 2542 (A.C. 1999); (2) Gabungan Perusahaan Karet Indonesia (GAPKINDO) and Ministry of Trade, Indonesia, will implement the AETS; and (3) Malaysia will be governed by the Rubber Price Stabilization Act 1975 under the Malaysian Rubber Board.

For further information, please click: Press Release - 8 Feb 2018 - Thailand Indonesia Malaysia Agreed Export Tonnage Scheme

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