BANGKOK, Jan 17 (Reuters) - Thailand, Indonesia and Malaysia will meet by February to find ways to stabilise rubber prices, Thai Prime Minister Thaksin Shinawatra said on Saturday.
In his weekly radio address, Thaksin said an informal ministerial meeting would be held in the southern town of Had Yai, where the three countries would come up with long-term measures to manage rubber prices if there was any volatility.
The meeting was set after Malaysia's industrial minister visited him on Monday, Thaksin said. The meeting would also discuss on prices of rubber wood and palm oil due to rising demand.
"We agreed that three countries, Thailand, Indonesia and Malaysia will hold a meeting in Had Yai by February to seek measures on how to manage if there is volatility in rubber market," Thaksin said.
The three countries have wanted the prices of rubber raw material to be at around $1 a kg, Thaksin said. The price was 43 baht ($1.11) per kg on Friday.
Thailand is the world's top producer and exporter of rubber.
Thailand, Indonesia and Malaysia together account for some 62 percent of the world's natural rubber production. (US$1=38.9 Baht)