Latest news with #MalaysianRubberGloveManufacturersAssociation
Barnama
15 hours ago
- Business
- Barnama
Cautious Trading Ahead For Rubber Market Amid Supply Concerns
By Siti Noor Afera Abu KUALA LUMPUR, May 31 (Bernama) -- The local rubber market is likely to remain on a downtrend next week as businesses are still cautious about the global market outlook, according to the Malaysian Rubber Glove Manufacturers Association (MARGMA). The association said prices will likely be affected by the supply shortages due to the weather conditions, the strength of the ringgit, crude oil price movements, and the unpredictable nature of the United States-China trade relations and China's economic policies. 'These will contribute to a volatile and uncertain market for rubber in the coming week,' MARGMA told Bernama. Industry expert Denis Low also echoed this view, noting that weather-driven supply disruptions could further add to market volatility. For the week just ended, the Kuala Lumpur rubber market ended on a downtrend this week, weighed down by declines in regional rubber futures markets, weaker benchmark crude oil prices and a stronger ringgit against the US dollar. On a week-to-week basis, the Malaysian Rubber Board's reference price for Standard Malaysian Rubber 20 (SMR 20) fell by 42 sen to 698.5 sen per kilogramme (kg), while latex in bulk decreased by 6.5 sen to 620.5 sen per kg. The Kuala Lumpur rubber market will be closed on June 2, 2025 (Monday) in conjunction with His Majesty Sultan Ibrahim's official birthday and will commence operations on Tuesday. -- BERNAMA
Barnama
26-05-2025
- Business
- Barnama
Rubber Market To Trade In Stable Mode Next Week With Upward Bias
By Nur Athirah Mohd Shaharuddin KUALA LUMPUR, May 24 (Bernama) -- The Malaysian rubber market is expected to trade in a stable mode next week, with a tendency towards an upward bias, amid the ongoing 90-day pause in United States (US) tariffs, which offers breathing space to the global economy. Industry expert Denis Low said that, as a result, prices and demand are likely to remain balanced, with a slight inclination towards higher levels. He opined that the ongoing uncertainties caused by tariffs imposed by US President Donald Trump are certainly eroding economic optimism. 'Whenever optimism is lacking, the desire to be expansionary in all aspects of commerce will be affected. With such negativism prevailing, it can impact most commodities, including rubber, in two ways. 'The lack of optimism will reduce the willingness to increase production adequately. If left unchecked, this can balloon into a shortage, which is already beginning to occur in the rubber sector,' he told Bernama. Meanwhile, the Malaysian Rubber Glove Manufacturers Association (MARGMA) said the rubber market is expected to face mixed pressures next week, with the potential for supply disruptions balanced by continued demand from key sectors and supportive Chinese policies. The association noted that prices are expected to continue tracking the performance of regional rubber futures markets, the ringgit strengthening against the US dollar and benchmark crude oil prices. 'The wet weather season will continue to affect natural rubber supply in major producing countries, while developments related to US trade negotiations are still causing some uncertainties,' it said.
New Straits Times
06-05-2025
- Business
- New Straits Times
MARGMA backs directive requiring full local manufacturing for glove exports
KUALA LUMPUR: The Malaysian Rubber Glove Manufacturers Association (MARGMA) has expressed strong support for the government's new directive mandating that only rubber gloves fully manufactured and processed in Malaysia will qualify for export under the country's certificate of origin. The policy, announced by Plantation and Commodities Minister Datuk Seri Johari Abdul Ghani, requires glove exporters to ensure that the entire manufacturing process takes place domestically to be eligible for certification from the Ministry of Investment, Trade and Industry (MITI). Only products that are fully processed and produced domestically are permitted for export in line with Malaysia's commitment to international trade partners such as the United States. Johari said the government will not allow gloves produced abroad to be brought into Malaysia solely for repackaging or relabelling before being re-exported. MARGMA president Oon Kim Hung welcomed the decision, calling it both "timely and necessary" to safeguard the integrity of Malaysia's world-renowned glove industry. Onn stressed that re-exporting finished gloves that are merely trans-shipped through Malaysian ports threatens to erode years of trust built with international buyers. "By ensuring every critical manufacturing step takes place on Malaysian soil, we safeguard product quality, traceability and the stringent ESG standards demanded by global buyers," Oon said in a statement. Rubber gloves remain a key pillar of the national economy. In 2024, Malaysia exported RM15.41 billion worth of rubber gloves—nearly half of the country's total rubber and rubber-based product exports. Onn said the new directive is seen as a strategic move that delivers multiple benefits. "First and foremost, it cements Malaysia's reputation for uncompromising quality and transparent supply chains, giving importers and healthcare providers clear assurance that gloves labelled as "Made in Malaysia" truly originate here. "It also creates fair competition by preventing trans-shipment practices that disadvantage manufacturers who invest heavily in domestic facilities, technology and skilled Malaysian employees," Onn said. "Thirdly, it underpins long-term industry sustainability by encouraging continued capital expenditure, R&D and technological upgrades that will keep Malaysia at the forefront of hand-protection innovation." MARGMA also welcomed the minister's clarification that importing raw latex—especially from neighbouring Thailand—remains permissible. With local latex production meeting only about one-third of industry needs, imports are vital to ensuring uninterrupted glove production. "Importing latex for processing here is entirely different from importing finished gloves. This policy strikes the right balance between safeguarding quality and ensuring supply security," Oon explained. To support the directive's rollout, MARGMA said it will work closely with the Malaysian Rubber Board (MRB) to assist member companies with compliance, documentation, and audit readiness. It will also collaborate with enforcement bodies to prevent trade diversion and maintain the industry's international credibility. "We urge every licensed exporter to observe both the spirit of this directive. Together with the Ministry and MRB, MARGMA is committed to preserving Malaysia's position as the trusted global source of high-quality, responsibly manufactured rubber gloves," Oon said.
