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Big Three Rubber Producers to Formally Establish Cartel.
Byline: Phusadee Arunmas
Oct. 6--The world's three largest rubber producers -- Thailand, Indonesia and Malaysia -- plan to sign a shareholding agreement for the establishment of their rubber cartel today at the Asean Summit in Bali.
International Rubber Company Ltd (Irco) was initiated last year with an aim to pool the resources of the three countries that control more than 70 percent of the world rubber trade in order to stabilise their local industries and prices.
The company has initial capital of US $225 million, of which Thailand is contributing $100 million, Indonesia $75 million and Malaysia $50 million.
Deputy Agriculture ...
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Source: HighBeam Research, Big Three Rubber Producers to Formally Establish Cartel.