Three Ministers from the main natural rubber (NR) producing countries, namely Thailand, Indonesia and Malaysia, attended the Special Ministerial Committee Meeting of the International Tripartite Rubber Council (ITRC) on 22 February 2019. The Meeting was hosted by Thailand as the largest producer of NR at Mandarin Oriental Hotel, Bangkok.
The Meeting was chaired by the Host Minister, Grisada Boonrach, Minister of Agriculture and Cooperatives of the Kingdom of Thailand. The other member countries were represented by Darmin Nasution, Coordinating Minister for Economic Affairs of Republic of Indonesia, and Teresa Kok, Minister of Primary Industries of Malaysia.
The three Ministers were accompanied by senior officials from governments and members of the Board of Directors of the International Rubber Consortium – a company established by the three members of ITRC.
The Special Ministerial Committee Meeting was held with the objective to explore measures to address the prevailing depressed NR price level. In the Meeting, the Ministers shared views on NR market and discussed related issues and efforts to ensure balanced and healthy NR fundamentals towards fair and remunerative price levels.