The three major rubber-producing countries set the threshold for intervention in rubber prices

According to Reuters news, a Malaysian industry source said on the 5th that the world's largest rubber-producing countries - Thailand, Indonesia and Malaysia have decided that if the rubber price fell to 2.70 US dollars per kilogram, it will implement the market intervention.

The source said that this was an agreement reached by the above-mentioned state officials when they held a meeting in Thailand on the 4th. He also attended the above meeting, but the person declined to be named.

No confirmation has been obtained from the Malaysian government.

“The last thing to discuss is the price of support,” he said. “The governments of the three countries need to quickly come up with solutions because many small farmers in various countries are planting rubber.”

After these three countries decided in August to reduce exports and production to support prices, the physical rubber price is currently much higher than 3.00 US dollars per kilogram.

The source said that the three countries began to reduce rubber exports in October. According to the agreement reached, Thailand should reduce exports by 150,000 tons, Malaysia by cutting 4-5 million tons, and Indonesia by about 10,000 tons.