MALAYAN RUBBER

Greymouth Evening Star, 20 September 1946, Page 3

MALAYAN RUBBER

PRICE CONTROLS CAUSING . ACCUMULATIONS PRODUCTION INCREASED LONDON, September 18. “Rubber stocks are piling up on estates throughout Malaya, as production steadily increases, but the growers cannot find buyers at even 10 per cent, below the official price, says Reuter’s correspondent -in Singapore. „ , “August exports of 76,649 tons are 30 000 tons above those for July, but there was still more than 60,000 tons on the stock piles at the end of August. “Rubber authorities in Singapore believe that any establishment of a free market would stabilise the price at l£cl to 2d below the present control level, but dealers believe that the stocks would then be quickly liquidated.” A small party of British Government officials, with a representative of the Rubber Growers’ Association, left for the United States this week to discuss the complex rubber situation, following the rapid resumption of large-scale production by Malayan estate. Britain has acquired considerable stocks, and, at present, it seems that the Beard of Trade is holding off from making further purchases, also that the planters are not after all assured of a market for all they produce. It is believed that there will be a return to free marketing when, the present agreement with America expires at the end of 1946, when the price of the commodity might sink below the present 14d per lb.