Improved supply and stable demand will continue to drive latex prices down, says Tan Sri Lim Wee Chai, Chairman of Top Glove Corp.
“My opinion is latex concentrate will fall to between RM5 and RM6 (EUR1.28 -EUR1.54) per kg in the next few months, from the price range of RM6 to RM6.30 (EUR1.54-EUR1.62) per kg, presently. Demand is stable. China’s economy is not as aggressive as the past few years,” he said.
Wee Chai said he was also expecting the global demand for rubber gloves to grow by up to 15% this year.
“Depending on the global economic situation, the market grows about 5% to 15% each year,” he said.
However, Wee Chai urged the government to consider any price changes carefully as “we do not want to cost ourselves out of the market.”
Malaysia accounts for more than 60% of the global market for rubber gloves and produces 96 billin pieces of rubber gloves.
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