NO AGREEMENT REACHED ON PRODUCTION OF SYNTHETIC RUBBER

Evening Star, Issue 26149, 10 July 1947, Page 7

NO AGREEMENT REACHED ON PRODUCTION OF SYNTHETIC RUBBER

(Rec. 9.45 am.) PARIS, July 8. The . International Rubber Study Group has failed to reach an agreement to limit the production of synthetic rubber after an eight-day conference behind closed doors. ; It is understood that the United r States representatives refused to consider any further control of the United States output and based their refusal on America’s strategic need to produce 250,000 tons annually. A communique issued after,the conference states that the group passed a resolution recommending participating Governments to accept the new statutory rules. providing particufirst, that all countries having substantial interests in rubber production, consumption, or trade could become members of the group: secondly, that the group should study measures to increase the world 1 ' consumption of rubber; thirdly, that the group should set up a secretariat to . take all useful measures for the collection and distribution of statistics. , The group also recommended the setting up of a steering committee composed of France, Holland, Great Britain, and the United States to establish a secretariat permanent seat which should be in London. The group estimated that the production of natural rubber might rise to 120.000 toils and the production of synthetic rubber to 500,000 tons by the end of .1947. It estimated the demand for natural - rubber at little more than 1,060.000 tons and for synthetic at 585.000 tons. The group is concerned about the downward tendency of the price of natural rubber, and decided to recommend .interested Governments« urgently to examine measures to remedy . the situation.