Malaysia to step up rubber replanting
Kuala Lumpur, November 6, 2008
Malaysia will accelerate its replanting scheme involving 32,000 hectares of existing rubber land under the country's initiative to improve market conditions following the weakening of raw natural rubber prices since July 2008, said a senior government official.
This was double the total replanted area to be achieved in 2008, Plantation Industries and Commodities Minister Datuk Peter Chin Fah Kui was quoted as saying in the Commodity Online report.
He said by doing so, Malaysia would be removing another 32,000 to 38,000 metric tones of rubber from the market in the coming years.
The International Tripartite Rubber Council, which comprised the major natural rubber producing countries of Malaysia, Thailand and Indonesia, would also meet in Bangkok, he said.
They are expected to discuss the possible implementation of the Agreed Export Tonnage Scheme (AETS), he said.
'It is expected that the rubber exporters of Malaysia, Thailand and Indonesia will coordinate their marketing activities through their respective rubber associations in order to harmonise and enhance good business practices in accordance with the guidelines of AETS,' he added.
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