Hartalega expects glove ASPs to rise by 50% in Q3

CGS-CIMB said Hartalega believed that there would be a global shortage of 120 billion gloves annually for at least the next two years, due to higher demand from both healthcare and non-healthcare sectors, owing to the Covid-19 pandemic.

PETALING JAYA: Hartalega Holdings Bhd is set to benefit from an increase in average selling prices (ASPs) over the course of its current financial year, in view of the global glove shortage.

CGS-CIMB said in a report the company expected its glove ASPs to rise by 50% quarter-on-quarter in the third quarter of its current financial year ending March 2021, as well as a 40% quarter-on-quarter increase in the fourth quarter.