KUALA LUMPUR (May 25): Latex goods accounted for 83.1% of total exports of rubber products in the first quarter of 2022 (1Q22) with gloves generating the largest rubber export revenue, the Malaysian Rubber Council (MRC) said on Wednesday (May 25).
However, the export for latex goods reduced by 63.72% from RM18.31 billion to RM6.65 billion for 1Q22 compared with 1Q21, according to MRC's infographic.
The agency under the Ministry of Plantation Industries and Commodities released the data for rubber export performance for 1Q22 on Wednesday (May 25).
In a statement, MRC added that the gloves sub-sector documented a decrease of 66.2% equalling to RM6.04 billion in 1Q22. It further listed that surgical gloves remained the highest earner with export revenue of almost RM561.7 million, an increase of almost 13.3% from 1Q21.
Meanwhile, latex threads recorded a 21.8% increase to RM240 million from RM197.1 million, catheters recorded an increase of 66.5% to RM113 million and foam products recorded an increase of 204.2% to RM106.1 million.
For dry rubber products export performance in 1Q22, tyres were the largest export with an increase of 4.5% from RM429.9 million to RM449.1 million compared with in 1Q21.
The industrial rubber goods, which comprise products for the automotive, mining and construction sectors, recorded RM377.2 million (23.2%), while the general rubber goods saw RM375 million (9.7%) and footwear saw RM150.1 million (4.1%).
MRC chief executive officer Nor Hizwan Ahmad believes that the competitiveness of the Malaysian rubber industry can be enhanced by focusing beyond healthcare.
"... we do not need to merely leverage on a pandemic as the industry has grown exponentially over the past decades. The world will not wait for us so the rubber players must ensure that we move in tandem with the ever-evolving world," he said.
Nor Hizwan urged glove manufacturers to delve into the non-medical industry players as their potential and key clients to make the industry more lucrative.
"After all, disposable non-medical-grade gloves come in various ranges of sizes, colours, thicknesses, and textures. Applications for such gloves exist in businesses from tattoo parlours to laboratories and even childcare centres," he said.
The government agency is currently facilitating local manufacturers in securing new markets and "spreading their wings" to the non-medical sectors.
"The growth of the rubber industry is not only the interest of the council, but it also stands as a national interest. As long as the rubber industry survives, the nation will also prevail.
"My mission is to ensure the rubber industry is deemed sexy and appealing in the eyes of the beholder globally and no longer be limited as a sunset industry," Nor Hizwan said.
Source : The Edge Market
May 31, 2022
