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MIDF maintains positive on rubber gloves sector

MIDF maintains positive on rubber gloves sector

CTI May 7, 2015 0 comments
Latex & Nitriel Gloves
07May
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Read the full original article at thesundaily.my PETALING JAYA: The export value of rubber gloves in February 2015 maintained its uptrend and increased by 18.2% year-on-year (y-o-y) to RM916 million due to the stronger US dollar against the ringgit earlier this year. However, MIDF Research said the export volume for rubber gloves fell 10.9% from […]

Read the full original article at thesundaily.my

PETALING JAYA: The export value of rubber gloves in February 2015 maintained its uptrend and increased by 18.2% year-on-year (y-o-y) to RM916 million due to the stronger US dollar against the ringgit earlier this year.

However, MIDF Research said the export volume for rubber gloves fell 10.9% from a year ago to 47,395 tonnes due to increasing demand of thinner specification gloves from overseas customers.

“In 2014, Malaysia’s exports of rubber gloves increased by 7.1% y-o-y to 95.4 billion pieces, whereas its export volume decreased by 18.1% to 692,000 tonnes. Out of the 95.4 billion pieces, 50.4% consists of natural rubber gloves and 49.6% consists of nitrile rubber gloves,” it added.

MIDF said the price of Malaysian rubber improved by 6.8% year-to-date, which would increase the low average selling prices of gloves, enhancing revenue for the glove makers.

In addition to that, the price of rubber traded in regional markets such as Vietnam, Thailand and India has also shown positive improvements, MIDF Research said.

“Going forward, we are expecting the price of rubber to further appreciate gradually as signals of rubber supply tightening from Thailand is being seen. Thailand is the world’s largest natural rubber producer. The tightening of rubber supply is attributable to the loss incurred by the Thailand government for the past three years due to the low rubber price,” it said.

MIDF Research said the bulk of the demand for rubber is expected to continue to come from China, the main rubber consumer.

It also pointed out that due to the fall in crude oil price last year, nitrile rubber prices have also declined as the main constituent in nitrile rubber composition is derived from petroleum.

Read the full original article at thesundaily.my

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