The Executive Committee of the seven nation Association of Natural Rubber Producing Countries is to meet in Kuala Lumpur later this month to finalise its proposals for an international rubber agreement.
GV EXT of Bandaranaike Conference Hall (2 SHOTS)
SV Delegates registering at conference (3 SHOTS)
SV Sri Lankan drummers entertain delegates
SV Views of seated delegates (9 SHOTS)
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Background: The Executive Committee of the seven nation Association of Natural Rubber Producing Countries is to meet in Kuala Lumpur later this month to finalise its proposals for an international rubber agreement. This was decided at the end of a two day assembly held in the Sri Lankan capital of Colombo.
SYNOPSIS: High on the agenda of the conference were proposals to establish a system of stabilised prices. In the past natural rubber prices have been subject to violent price fluctuations.
Its hoped that the Association will be able to stabilise prices in the interest of the major producers much the same as OPEC does for its oil producing members.
Delegates also discussed at length, ways to improve production and marketing techniques.
The Association which is responsible for nearly 85 per cent of the world's production of natural rubber, serves not only the member countries but consumers as well. The share of natural rubber in the total production of rubber is expected to rise from 30 per cent to 40 per cent by 1980.
Largely responsible for the increase in the rapidly rising cost of producing synthetic rubber due to the hikes in oil prices.
But unless natural rubber maintains a supply equal to the growing demand, the high prices for synthetic rubber would be placed in a more competitive position. (SEQ 1-4)