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Article Comparison - International Natural Rubber Agreement

Article 29
Price range

1. There shall be established, for the operations of the Buffer Stock:

(a) a reference price;

(b) a lower intervention price;

(c) an upper intervention price;

(d) a lower trigger action price;

(e) an upper trigger action price;

(f) a lower indicative price; and

(g) an upper indicative price.

2. On the entry into force of this Agreement, the reference price shall be the reference price applicable on 28 December 1995.

3. There shall be an upper intervention price and a lower intervention price calculated respectively at plus and minus 15 per cent of the reference price, unless the Council, by special vote, decides otherwise.

4. There shall be an upper trigger action price and a lower trigger action price calculated respectively at plus and minus 20 per cent of the reference price, unless the Council, by special vote, decides otherwise.

5. The prices calculated in accordance with paragraphs 3 and 4 of this Article shall be rounded to the nearest cent.

6. On the entry into force of this Agreement, the lower and upper indicative prices shall be initially fixed at 157 and 270 Malaysian/Singapore cents per kilogramme, respectively.