PRIME 2ND PHILIPPINE RUBBER INVESTMENT AND MARKET ENCOUNTER

Blog – Commodity First Part

PRIME 2^ND PHILIPPINE RUBBER INVESTMENT AND  MARKET ENCOUNTER

DAVAO CITY – November 10, 2015 – The PRIME keynote speaker USec. Zenaida C. Maglaya, DTI-Regional Operations Group presented the prospects of Rubber industry in the Philippines and the world to the guests and participants from all regions in the Philippines,  and foreign delegates who attended the 2^nd PRIME PHILIPPINE RUBBER INVESTMENT AND MARKET ENCOUNTER on November 10, 2015 at SMX Convention Center, Davao City.

PRIME 2015 official guests are the followings: USec. Zenaida C. Maglaya DTI-Regional Operations Group, Madam Sheela Thomas Secretary General, Association of Natural Rubber Producing Countries, Dr. Abdul Aziz Bin S.A. Kadir Secretary General, International Rubber Research & Development Board, RD Sitti Amina M. Jain, Ph.D. DTI-Region 9, National Rubber Industry Cluster Coordinator and Ms. Rhododa Dela-Cruz Medalla, President, Philippine Rubber Industry Association.

At about 700 more or less guests and participants attended the 2^nd PRIME 2015 with the participation of foreign stakeholders from Malaysia, Thailand, Singapore, Indonesia, India, Australia, Japan, China and Vietnam who have interest in rubber industry.

PRIME 2015 is a success one conference for the rubber industry would enlighten the stakeholders in particular the local players who’s their lifeblood and survival for so many years as farmer producers and buyers.

With current low price of the rubber products in the world markets its affected the rubber industries worldwide caused by the slow of economy of China, Japan, US, EU and Asian economy.

In the press conference on the 2^nd PRIME2015, local media suggested in Q and A, it need divine intervention God and suggest to panelists and the group of the associations from the rubber industries both local and international organization. 

Local and international players from the rubber business group have proposed intervention to save the small farmers of rubber in the regions, 99 percent of the rubber producers are from Mindanao would need government assistance to prevent from suffering of market slow down.

Local small rubber farmers are really affected and some of them stop producing of raw rubber and cup lamp because of this current slip down price of the commodity. They suffer so much, they says, they cannot cope-up in their operation on the ground because of high cost expenses for labor to produce semi-produced rubber such as: SPR-20, SPR-10, SPR-5TL, Cup lamp and latex rubber.

World economy is in slowing down now due to global recession powerful house economy nations likes: US, Japan, China and EU are now at slide inflation that’s why it’s affects the whole rubber industries, Gold and other commodities. They reduce to purchase these kinds of commodity for their supply requirements.

Forecast the price of rubber commodity will be rebounded back in 2017 as predicted by the group of local and international expert of the industry during PRIME 2015 presentation on their respective lectures in Davao conference.

Business matching established in the exhibits by the PRIME 2015 organizers spear-headed DTI – Region 9 with other national line agencies and Non-Government Organization related to rubber industries.

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