KUALA LUMPUR: The rubber glove industry is expected to contribute up to RM12.4 billion in export revenue this year, said the Ministry of Plantation and Commodities.
Deputy Plantation and Commodities Minister Datuk Chan Foong Hin said Malaysia exported rubber gloves worth over RM11.8 billion in 2023, capturing 45 per cent of the global market share.
"For the first half of 2024, the rubber glove industry trade has surged to RM6.8 billion, up from RM5.8 billion in the same period in 2023.
"So that is why we anticipate the figure (of rubber gloves export value) will increase from RM11.8 billion to RM12.4 billion for this year. It is quite an encouraging trend for the Malaysian rubber export,” he told reporters after officiating the 11th International Rubber Glove Conference & Exhibition (IRGCE 2024) here today.
Organised by the Malaysian Rubber Glove Manufacturers Association and co-hosted by the Malaysian Rubber Council, the three-day IRGCE 2024, which kicks off today, is set to be a pivotal platform for driving innovation and sustainability within the rubber glove industry.
Earlier in his speech, Chan said the government supports the industry’s continued growth.
"We recognise the extensive economic benefits it generates, from upstream cultivation to downstream manufacturing, positively affecting the entire economic ecosystem.
"Nevertheless, we must also address existing challenges, such as the volatility of our rubber prices together with emerging issues like untapped areas and plant diseases deeply affecting the production and yield of raw rubber,” he said.
Chan said the Ministry of Plantation and Commodities is committed to addressing this issue by leveraging technological advancements and research to enhance productivity, quality, and global competitiveness.
"We are confident that our new commercially driven model will significantly increase the country’s rubber yield, optimise plantation and labour management, and ultimately improve the income of rubber smallholders.
"Looking ahead, it is crucial for the Malaysian rubber glove industry to embrace sustainability as we have already seen numerous sustainable practices within the industry, including the development of eco-friendly gloves, water conservation initiatives, and investments in renewable energy,” he added. - Bernama
