12 August 1999
Sri Lanka out of rubber organisation
SRI LANKA is pulling out of the International Rubber Organisation (INRO).
It is the third producing country to leave the organisation. Thailand and Malaysia – the worlds largest and third largest natural rubber producers – have already said they are quitting.
INRO maintains a buffer stock of rubber and depends on funding from producing countries. It has come under criticism for not doing enough to support prices.
Indonesia, the Ivory Coast and Nigeria will now be left as the only producer members of INRO.