PROGRESS AT RUBBER PACT TALKS REPORTED SLOW
Negotiators at a United Nations
conference on natural rubber are making slow progress towards
reaching an agreement, delegates said.
    The conference, which began Monday, is widely seen as the
final effort to adopt a new International Natural Rubber
Agreement (INRA) before the current one expires in October.
    Some 40 producing and consuming countries are taking part
in the two-week meeting. This is the fourth such conference in
nearly two years.
    Delegates said both sides still appeared divided on the key
issue of the price adjustment mechanism.
    Consumers want frequent price reviews at 12 month intervals
instead of 18 months as at present, a proposal currently
rejected by producers.
    And while consumers press for the price adjustment to be
automatic, producers have resisted reducing the role of the
International Rubber Organization Council in the price
adjustment procedure.
    Conference chairman Manaspas Xuto of Thailand has said it
was "imperative" to settle outstanding issues this week so that
technical drafting work can be done next week.
 Reuter
