Malaysia Can Achieve Double-Digit Growth In Rubber Gloves Export In 2024
PETALING JAYA (Malaysia), June 6 (Bernama) -- The Plantation and Commodities Ministry 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 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 Thursday.
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 eco-friendly options.
He said these endeavours 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.
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.
-- BERNAMA
