Sustainable Plan for the Rubber Industry

In: Business and Management

Submitted By hylee
Words 555
Pages 3
Singapore-based Rubber Study Group (RSG) developed a sustainable plan for the rubber industry

This article is not just focus on one business, but an industry. It tells that Singapore-based Rubber Study Group (RSG) is developing a sustainable plan for the rubber industry to overcome the bottleneck it faced with during the development. The plan is trying to give the industry a new, important mission of trying to balance its commercial success while not being overly destructive of the environment
The snapshot of the industry: * The industry structure is fragmented: An overwhelming 85% of rubber production comes from small growers. So there is not unit sustainable standard currently. * Natural rubber has a long history of being cultivated for commercial uses. It prices increased a lot in the past 10 years and the total market value is more than $30 billion annually. * Increasing demand spurs planting of rubber in new areas.
Firstly, I think the plan will be helpful to set up the standard rules of the industry. We can see from the article that rubber produced by emerging producing countries and small growers are filled with a lot of impurities. If standard of product exists, those inferior products will not come into the market. This will on some level increase the industry entry barrier and weed out some small growers. Not only the business environment is improved, consumer’s rights are also protected. Besides, from the article we know that about 85% of natural rubber is produced by smallholders and tire producers purchase around 70% of total natural rubber placed on the global market. The plan will help the suppliers and customers communicate more efficiently. Stable cooperative relationship between the two counterparties will help to keep a stable supply system, including a price without too much fluctuation.
Because of the demand for natural rubber,…...

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