Thailand, Indonesia and Malaysia - which produce about 70 per cent of the global natural-rubber supply, have agreed to cut exports of the commodity by 300,000 tonnes in an attempt to raise the price, Agriculture and Cooperatives Deputy Minister Nattawut Saikuar said on Thursday.
Mr Nattawut, a co-leader of the red-shirt United Front for Democracy against Dictatorship (UDD), said a meeting of representtives from the three biggest rubber producers agreed on the cut with the aim of boosting the market price of natural rubber.
Under the agreement, Thailand will cut its rubber exports by 150,000 tonnes. The remaining 150,000 tonnes will be shared by Indonesia and Malaysia, he said.
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