GEORGE TOWN – Malaysia’s export of rubber products is estimated to increase by 80% to reach RM74 billion this year from RM41 billion last year, attributed to a spike in the export of rubber gloves.
Rubber gloves would likely constitute over 90% of the country’s total export of rubber products, said a Malaysian Rubber Board spokesman.
“The improving global economic activities have scaled-up the outlook for natural rubber (NR) demand. Global consumption of NR is anticipated to increase 6.7% to 13.7 million tonnes in 2021, following the 7.8% fall in 2020.
“The consumption in major markets like China and the United States has shown a positive increase due to resumption of business operations following the vaccine rollout to combat the Covid-19 pandemic,” he told Bernama in an email interview.
However, he said the resurgence of Covid-19 cases in Malaysia, which led to movement restrictions and lockdown, minimisation of workforce and other various control measures imposed by the government would cause disruptions in the NR supply chain.
Meanwhile, he said Malaysia’s NR export is expected to rise by about 5.0% to RM6.5 billion compared with RM6.2 billion in 2020, mainly supported by good rubber prices in 2021 over 2020.
In terms of rubber production trend this year, he said it is projected to increase to 530,000 tonnes this year from 514,700 tonnes in 2020, which was the lowest in a decade. – Bernama, July 18, 2021
