Top Glove expects latex prices to rise this year

Top Glove chairman Tan Sri Lim Wee Chai said the exceptionally good performance was largely attributed to continuous internal quality and cost efficiency improvements.

KUALA LUMPUR: Top Glove Corp Bhd’s executive chairman Tan Sri Lim Wee Chai  is bracing for higher latex prices this year.

“Last year, latex prices were low. So I think it will go up this year. We hope that raw material prices will stay at manageable levels: not too high nor too low. Too low and it won’t be able to sustain while if it is too high also it won’t be able to last. So at a medium price range it would be good,” Lim told reporters on the sidelines of the Invest Malaysia 2019 conference.

“Now latex concentrate prices are at about RM4.80 to RM5.00 per kg and I think this is a reasonable level. It cannot be too low like last year which was below RM4.00. If it is too high at RM8.00 or RM10.00 per kg it will also not be sustainable,” he added.

Latex is the raw material used in the manufacturing of rubber gloves.