Thailand To Cut Rubber Production

Thailand, the world's biggest rubber producer, plans to cut rubber production by 7000,000 tonnes starting from October 2008 to March 2009. The objective is to shore up the rubber price. This amounts to about 50% of Thailand's total production of 1.4 million tonnes based on the tonnage produced from October 2007 to March 2008.

Car sales are in the doldrums as consumers are cautious in view of the global financial crisis. Since more than 70% of the rubber go into car tyre industry, rubber producers from Thailand, Indonesia and Malaysia are feeling the squeeze.

(Toyota and Nissan have cut global production as falling home values and tighter credit crippled vehicle market demand in the US)

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