March 6, 2019 / 9:18 AM / 8 months ago

Indonesia to cut 98,000 tonnes of rubber exports under producer deal - official

JAKARTA, March 6 (Reuters) - Indonesia will cut natural rubber exports by 98,000 tonnes this year under an agreement with top producers to prop up global prices, Oke Nurwan, Trade Ministry’s director general of foreign trade told reporters on Wednesday.

The International Tripartite Rubber Council (ITRC), which comprises Thailand, Indonesia, and Malaysia, agreed to curb export by a combined 240,000 tonnes for four months starting April.

It was the sixth time the group has imposed export restrictions after benchmark rubber futures in Tokyo fell to a two-year low in November. (Reporting by Bernadette Christina Munthe; writing by Fransiska Nangoy; editig by Christian Schmollinger)

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