MALAYSIA CAN ACHIEVE DOUBLE DIGIT GROWTH IN RUBBER GLOVES EXPORT IN 2024

PETALING JAYA, June 6 (Bernama) -- The Ministry of Plantation and Commodities is cautiously optimistic that Malaysia will be able to achieve a double digit growth in rubber gloves export revenue this year.

Deputy Plantation and Commodities Minister Datuk Chan Foong Hin said that last year, Malaysia exported over RM11 billion worth of rubber gloves, which accounts for 58 per cent of the nation’s total export of rubber products.

“Malaysia is also the global leader in the rubber gloves industry. Post-COVID era, we’ve seen an about 12-15 per cent growth in demand every year,” he told reporters after the soft launch of the 11th International Rubber Glove Conference and Exhibition (IRGCE), here today.

Malaysia recorded RM3.3 billion rubber gloves export revenue in the first quarter of 2024.

Meanwhile, Malaysia Rubber Glove Manufacturers Association (MARGMA) president Oon Kim Hung said the industry has shown exceptional resilience and flexibility in the face of challenging global circumstances.

“Despite the downturn in 2023, where global demand for rubber gloves dropped significantly due to overstocking and the collapse of the average selling price, our players in Malaysia remained steadfast in their businesses and continue to move our industry forward,” he said.

On another development, Oon said MARGMA is currently exploring the establishment of industry standards for Malaysian-manufactured rubber gloves and implementing the 'Malaysia Sustainable Natural Rubber' initiatives, including 'Green Gloves' and other ecofriendly options.

He said these endeavors highlight its dedication to sustainable practices and the preservation of the environment.

“Collaborating closely with stakeholders and utilising technologies such as Internet of Things and artificial intelligence (AI) can improve supply chain efficiency, streamline operations, and enhance decision-making, leading to increased global competitiveness and effective management of upcoming challenges” he said.

Themed “Towards an Effective, Sustainable and Innovative Rubber Glove Industry”, the 11th IRGCE is scheduled to take place in Kuala Lumpur from Sept 3-5, 2024 organised by MARGMA, to be co-hosted by the Malaysian Rubber Council.

Among other things, the event will feature technical papers and keynote presentations by international and local experts on topics such as environmental and biodegradability standards for disposable rubber gloves, as well as practical approaches to adopting Industry 4.0 technologies for sustainable manufacturing.

The experts will also discuss preparations for the European Union's new deforestation regulations, leveraging digital technologies for a sustainable supply chain, and environmental, sustainability and governance (ESG) principles to ensure ethical and responsible business practices.

Currently, 550 booths have been reserved by 171 exhibitors from 17 countries.

“We are anticipating the largest participation yet this year, with representatives from over 30 countries and an estimated 12,000 participants.

“The Ministry of Plantation and Commodities, together with other stakeholders, namely the Ministry of International Trade and Industry, Malaysian Rubber Board and Malaysia External Trade Development Corporation (MATRADE) is proud to support this event,” he added.

-- BERNAMA