The Board of Directors (BoD) of the International Rubber Consortium (IRCo) met on 4 April 2019 in Bangkok, Thailand. The BoD consists of representatives from Thailand, Indonesia and Malaysia.
The meeting reiterated the implementation of the 6th Agreed Export Tonnage Scheme (AETS) through their respective domestic regulators for the period of 4 months since 1 April 2019. Under the 6th AETS, 3 ITRC Member Countries agreed for export cutbacks of 240,000 MT of natural rubber (NR).
In addition to that, 3 Member Countries analysed NR statistics in particular the inconsistency of NR production from Thailand and Indonesia which was reported by various agencies. In this regard, ITRC Member Countries confirmed that NR production in 2018 from Thailand was 4.879 million MT, Indonesia, 3.630 million MT and Malaysia, 0.603 million MT.