Brainstorming in the offing to check falling rubber prices

BANGKOK (Commodity Online) : In an effort to combat the free fall of rubber prices, the top rubber producing nations of the world—Thailand, Indonesia and Malaysia—will hold an urgent meeting this week.
Thai USS3 prices dropped to 90 baht ($2.95) per kilogram on Tuesday from 95 baht on Monday which is 50% of the record high of 180 baht achieved in February, reported http://www.thejakartaglobe.com.
TOCOM rubber futures have been going down since the Japan crisis has started unfolding.
Tokyo August contract rubber hit 12% down when compared to Monday’s close of 384.1 yen at 335.0 yen ($4.10) per kilogram. This figure is 40% drop from the record-setting mid-February high of 535.7 yen.
Yesterday, there were reports that the Thailand government had asked exporters to suspend operations. However there have been no reports of export cancellations.
The Thailand authorities are also keen to stockpile rubber as they have asked farmers not to sell below minimum level and have asked banks to issue credit to traders to hoard rubber.
The three countries account for 70% of global rubber output.