The Association of Natural Rubber Producing Countries Assembly has discussed several options to strengthen rubber prices, including the creation of a common trading platform, according to Sheela Thomas, ANRPC’s Secretary-General.
ANRPC’s ministerial level meeting was held at Kuala Lumpur and the deliberations based on the decisions of the Ministerial Assembly are being continued, she said.
This will be one of the important tasks of ANRPC annual meetings scheduled at Siem Reap in Cambodia from October 19 to 23, she said while speaking at the India Rubber Summit & Dinner 2015 organised by Asian Business Media here.
Earlier in his inaugural address, A Jayathilak, Chairman, Rubber Board, said that there were several factors such as shifting of rubber cultivation to non-traditional regions, climate change, impact of shale gas developments, etc determining the future of the rubber sector.
Later participating in a panel discussion on “NR Prices: The Emerging Scenario”, the industry experts pointed out that they were not expecting any major increase in rubber prices in the next one year.
Inspite of the prevailing downtrend in prices, the experts were bullish on the future of rubber as the demand is set to go up in tandem with global economic recovery.
Speakers also called upon the rubber farmers not to abandon tapping, but reduce the cost of production by limiting tapping to 60 days a year which is sufficient to get good yield.