Malaysia's export revenue is expected to grow at a slower pace of 8% to RM38 billion in 2021, compared with a 103% growth last year, said the Malaysian Rubber Glove Manufacturers Association (MARGMA), taking into account shorter lead time and lower average selling prices (ASPs).
Kuala Lumpur: Malaysia, the world’s biggest rubber gloves manufacturer, is racing to increase production to close a supply gap caused by the coronavirus pandemic that it warns could last until into 2023.
The Malaysian Rubber Glove Manufacturers Association (Margma) said on Monday the country was in an oversold position of 160 billion gloves.
“The lead time currently is about seven months for the gloves to be delivered to the end customer,” Margma President Supramaniam Shanmugam said, adding that demand would remain robust until the second quarter of 2022.
Even with global production expected to ramp up to 420 billion this year from 380 billion last year and annual growth of 10-15%, Supramaniam said excess demand could run into 2023.
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15 Mar 2021 / 14:56 H. Malaysia to produce about 280 bln gloves in 2021 Glove demand to stay strong till Q2 2022 Malaysia glove exports revenue doubled in 2020 Malaysia 2021 glove exports projected at 38 bln rgt (Recasts and updates throughout with more details, executive comments)
KUALA LUMPUR, March 15 (Reuters) - Malaysia, the world s biggest rubber gloves manufacturer, is racing to increase production to close a supply gap caused by the coronavirus pandemic that it warns could last until into 2023.
The Malaysian Rubber Glove Manufacturers Association (Margma) said on Monday the country was in an oversold position of 160 billion gloves. The lead time currently is about seven months for the gloves to be delivered to the end customer, Margma President Supramaniam Shanmugam said, adding that demand would remain robust until the second quarter of 2022.