Malaysia Will Take New Measures To Stabilize Rubber Prices

- Sep 18, 2020-

According to the Malaysian National Report, the Malaysian House of Lords (Dewan Negara) said in an interview today that since the beginning of this year the new crown pneumonia epidemic has affected the demand of the global market, especially the demand of China, the government will work to stabilize the price of rubber and increase its additional value. value.

II Datuk Seri Dr Wee Jeck Seng, Deputy Minister of Plantation Industry and Commodities, stated that the government is cooperating with the world’s major rubber producing countries, namely Thailand and Indonesia, to strengthen and stabilize the international market under the framework of the International Tripartite Rubber Council (ITRC). Rubber prices.

In response to a question from Senator Siti Fatimah Yahaya on what measures the government would take to stabilize rubber prices and increase its added value, he said: “According to this cooperation, the three major rubber-producing countries account for the global natural rubber output. 63.3% of the total."

The government plans to increase the amount of rubber used in the country and boost rubber prices in the medium to long term. These include the use of rubber in road construction, as well as the production of new rubber-based products and value-added products, including rubber gloves. The government will also introduce the concept of rubber community farms to increase the supply of raw materials and create additional income for small farmers through cash crops and animal husbandry.

The government plans to implement the latex corridor in the eastern region to obtain local latex products to support the development of latex product manufacturing, increase the income of small rubber farmers, and increase the consumption of natural rubber in the tire industry.

This will open up new investment opportunities for Malaysia, so it can further expand the rubber product manufacturing industry.