An alliance grouping the world's top three rubber producers - Malaysia, Thailand and Indonesia - would begin boosting prices within the coming months of this year, primary industries minister said today.

"We are going into the final process of putting into procedure the implementation of the Bali agreement together with the setting up of a 255 million dollar consortium to trade rubber and for stockpile purposes," said minister Lim Keng Yaik.

"With this in hand, we should see rubber prices going up to a much more encouraging level in the coming months of this year," he said.

Lim said Thailand, the largest producer, will take up the biggest portion of shares in the consortium. It will be followed by Indonesia and Malaysia.

The world's three top rubber producers agreed in Bali last November to reduce their rubber production by 4.0 percent and exports by 10 percent, apart from endorsing the creation of the International Tripartite Rubber Organisation.

Rubber prices (RSS One grade) have since gone up by 50 percent to 270 sen per kilogram from 180 sen per kilogram previously.