Growth in global rubber glove demand to stay at 8%-10% in 2017

  • Business
  • Thursday, 29 Dec 2016

Integrated Rubber Corp Bhd is the business of manufacturing rubber gloves

KUALA LUMPUR: The growth in global demand for rubber gloves is expected to be maintained at 8% to 10% in 2017, says the Malaysian Rubber Glove Manufacturers Association (Margma). 

In a statement on Thursday, Margma said it expected the total export revenue of rubber gloves for 2017 to be at RM15.2bil, while the projected total export revenue for 2016 to be at RM14.3bil. 

President Denis Low Jau Foo said the January-September 2016 statistics indicated that the total export revenue for rubber gloves would reach RM13.8bil. 

He said the lower projection was due to shortage of foreign workers to run production lines since February 2016 and shutdowns due to water shortage in the past few months. 

On the current market situation, Low said it was necessary to cut costs all round to stave off competitions from abroad. 

As such, Margma lauds the stance taken by the Energy Commission and Gas Malaysia Bhd in reducing the natural gas tariff effective from Jan 1 to June 30, 2017. 

“The 1.3% decrease in natural gas tariff is a welcome relief for rubber glove manufacturers,” said Low. 

He said the natural gas tariff increased 17.2% on Jan 1, 2016 and had a 6% increase on July 15, 2016. 

Both the increases had brought the Malaysian natural gas price at world market level.

Margma, established in 1989, is a non-profit industry association that extends a range of services to supporting organisations. - Bernama

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Next In Business News

Bursa joins global rally on better-than-expected US inflation data
MAHB, Capital A shares up after ending legal proceedings
Ringgit opens higher against US$ on buying interest
HLIB mildly positive on MISC's new long-term charters
Equities surge as US shows slowing inflation
Trading ideas: MAHB, Capital A, MISC, Ranhill Utilities, Hup Seng Industries, Pertama Digital, Green Packet and KPower
Ex-workers at Malaysian supplier sue Kimberly-Clark, Ansell over alleged labour abuse
Oil price rises on renewed gasoline demand, weak US$
Upside seen in 2Q growth
US renewables investors see bill sparking gold rush

Others Also Read