The continued downturn in rubber prices in the international market finally triggered a joint response from the world's major rubber producers. Representatives from Thailand, Indonesia, Vietnam, India, Sri Lanka, the Philippines, Cambodia and Papua New Guinea held a meeting in Malaysia recently and set the base price of natural rubber at US $1500 per ton, Representatives of all countries agreed that they would abide by the price agreement and asked all countries to abide by it.

Representatives of various countries hoped that this move would stop the declining trend of international rubber prices and save the small and micro rubber production enterprises facing bankruptcy in the above-mentioned countries. In recent years, the continuous downturn of the international rubber market has seriously impacted the production order of major rubber producing countries. Many rubber plantations and processing enterprises are facing bankruptcy and bankruptcy. Many rubber workers have switched to construction, textile or pepper planting for a living.

Take Cambodia, an emerging rubber producing country, as an example. In the first half of this year, the export volume of natural rubber reached 42189 tons, with a year-on-year increase of 42%, but the export amount decreased by 2%, from US $76.5 million to US $75 million.

Source: China Economic Net