MALAYSIA: Gloves prices set to rise further: MARGMA

Prices of rubber gloves are expected to rise further on the back of a continuous rise in the cost of production inputs, particularly natural rubber latex and nitrile latex, says the Malaysian Rubber Glove Manufacturers Association (MARGMA).

Natural rubber latex and nitrile latex are the two main ingredients used in the manufacture of gloves.

MARGMA President Denis Low Jau Foo said the price of medical examination and surgical gloves were raised this month (April 2016). "We are seeing an increase in latex prices from an average of RM3.55 per kilogram in February to RM4.55 per kg at present, an escalation of about 29 per cent," he said in a statement.

The price of nitrile latex had risen from a February average of USD 960 per ton to the current average of USD 1,020 per ton, which is about a 6.3 per cent increase. "It is inevitable that glove manufacturers must take in these higher costs and reflect the costs increase in the glove prices," Low said.

Besides, the increase in minimum wages on 1 July 2016, and the expected increase in natural gas prices, also in July, would have a significant bearing on the price factor, he added.

Source: “Bernama” (National News Agency of Malaysia), Kuala Lumpur; 21 Apr 2016
(Syed Rashid Ali, Karachi, Pakistan)