KOCHI, INDIA
THURSDAY, 7 OCTOBER 2010
Statement By International Rubber Consortium Limited (IRCo)
On behalf of International Rubber Consortium Limited or IRCo, the natural rubber (NR) marketing arm of the Tripartite Country, namely Thailand, Indonesia, and Malaysia, I would like to thank ANRPC Secretary-General, Professor Dr. Djoko Said Damardjati, for his kind invitation to IRCo to the 33rd Session of the ANRPC Assembly.
It is known that the ANRPC member countries have worked hard with their Secretariat to stop the fall of NR prices during the global financial crisis in late 2008. Likewise, Thailand, Indonesia and Malaysia under the International Tripartite Rubber Council (ITRC) and IRCo have also worked together closely during that critical period to stop the bleeding when the f.o.b. NR price plunged to 122.50 US cents/kg in December 2008 caused by the global market panic.
To stop the bleeding, the ITRC and IRCo accelerated NR replanting activities, cut back in the NR exports, agreed not to sell NR below 135 US cents/kg, f.o.b., in 2009. At the same time, other relevant schemes were introduced to complement the main schemes on the back of appropriate stimulus programs by the Tripartite Government. In December 2009, the f.o.b. NR price bounced back from the trough of the chart and stayed at around 277.74 US cents/kg after the Tripartite Country had made the concerted effort to stop the bleeding. And in August 2010, the f.o.b. NR price stayed at around 312.04 US cents/kg.
On 19 January 2010, the Ministers in charge of NR from the Tripartite Country, H.E. Mr. Supachai Phosu, Deputy Minister of Agriculture and Cooperatives of the Kingdom of Thailand, H.E. Dr. Bayu Krisnamurthi, Vice Minister of Agriculture of the Republic of Indonesia, and H.E. Tan Sri Bernard Giluk Dompok, Minister of Plantation Industries and Commodities of Malaysia met in Kuala Lumpur, Malaysia. The Ministers agreed that strategic market operations in the physical market would be implemented if-and-when necessary, a feasibility study on establishment of national rubber funds in the Tripartite Country would be conducted, and Vietnam would be invited to join both the ITRC and IRCo.
In addition, the ITRC and IRCo are conducting feasibility studies on establishment of a regional rubber market and a carbon credit scheme. And on 12 December 2011, the Tripartite Country will celebrate the 10th Anniversary of the Tripartite Rubber Cooperation in Bali, Indonesia. The Tripartite pioneer and existing Ministers will be invited to give speeches on the success in the last 10 years and future plans of the Tripartite Rubber Cooperation.
Ladies and gentlemen, I again would like to thank the ANRPC Secretariat and its member countries for inviting IRCo to give a statement at this gathering. And I would like to say that the ITRC and IRCo look forward to more cooperation, collaboration and participation among all NR producing countries in the future for better livelihoods of rubber smallholders worldwide.
Thank you.
Yium Tavarolit
Acting Chief Executive Officer
THURSDAY, 7 OCTOBER 2010
Statement By International Rubber Consortium Limited (IRCo)
On behalf of International Rubber Consortium Limited or IRCo, the natural rubber (NR) marketing arm of the Tripartite Country, namely Thailand, Indonesia, and Malaysia, I would like to thank ANRPC Secretary-General, Professor Dr. Djoko Said Damardjati, for his kind invitation to IRCo to the 33rd Session of the ANRPC Assembly.
It is known that the ANRPC member countries have worked hard with their Secretariat to stop the fall of NR prices during the global financial crisis in late 2008. Likewise, Thailand, Indonesia and Malaysia under the International Tripartite Rubber Council (ITRC) and IRCo have also worked together closely during that critical period to stop the bleeding when the f.o.b. NR price plunged to 122.50 US cents/kg in December 2008 caused by the global market panic.
To stop the bleeding, the ITRC and IRCo accelerated NR replanting activities, cut back in the NR exports, agreed not to sell NR below 135 US cents/kg, f.o.b., in 2009. At the same time, other relevant schemes were introduced to complement the main schemes on the back of appropriate stimulus programs by the Tripartite Government. In December 2009, the f.o.b. NR price bounced back from the trough of the chart and stayed at around 277.74 US cents/kg after the Tripartite Country had made the concerted effort to stop the bleeding. And in August 2010, the f.o.b. NR price stayed at around 312.04 US cents/kg.
On 19 January 2010, the Ministers in charge of NR from the Tripartite Country, H.E. Mr. Supachai Phosu, Deputy Minister of Agriculture and Cooperatives of the Kingdom of Thailand, H.E. Dr. Bayu Krisnamurthi, Vice Minister of Agriculture of the Republic of Indonesia, and H.E. Tan Sri Bernard Giluk Dompok, Minister of Plantation Industries and Commodities of Malaysia met in Kuala Lumpur, Malaysia. The Ministers agreed that strategic market operations in the physical market would be implemented if-and-when necessary, a feasibility study on establishment of national rubber funds in the Tripartite Country would be conducted, and Vietnam would be invited to join both the ITRC and IRCo.
In addition, the ITRC and IRCo are conducting feasibility studies on establishment of a regional rubber market and a carbon credit scheme. And on 12 December 2011, the Tripartite Country will celebrate the 10th Anniversary of the Tripartite Rubber Cooperation in Bali, Indonesia. The Tripartite pioneer and existing Ministers will be invited to give speeches on the success in the last 10 years and future plans of the Tripartite Rubber Cooperation.
Ladies and gentlemen, I again would like to thank the ANRPC Secretariat and its member countries for inviting IRCo to give a statement at this gathering. And I would like to say that the ITRC and IRCo look forward to more cooperation, collaboration and participation among all NR producing countries in the future for better livelihoods of rubber smallholders worldwide.
Thank you.
Yium Tavarolit
Acting Chief Executive Officer
(irco.biz)
No comments:
Post a Comment