Malaysia’s rubber exports up 14.2% in June on glove demand

MALAYSIA’S natural rubber exports rose 14.2% to 38,587 tonnes in June 2020 from 33,780 tonnes in the previous month as a result of increasing global demand for rubber and rubber gloves, government data showed.

The main natural rubber export destination was China with a 68.1% share of total exports in June, followed by Finland (4.2%), Germany (3.8%), the US (2.9%) and Taiwan (2.7%).

“Rubber gloves are still the main export item with export value increasing by 30.7% from RM2.13 billion in May 2020 to RM2.78 billion in June 2020,” the Department of Statistics Malaysia chief statistician Datuk Seri Dr Mohd Uzir Mahidin said in a statement yesterday.

Rubber glove manufacturing was also the main component of total domestic consumption for the month in focus, comprising 34,358 tonnes or 77.7% of total domestic consumption.

Domestic consumption of natural rubber in June rose 8.7% to 44,217 tonnes from the previous month.

The country’s rubber production in June increased 59.3% quarter-on-quarter to 33,531 tonnes compared to 21,044 tonnes in the previous month, but fell 8.9% on an annual basis.

Stocks of natural rubber depleted 12.6% to 254,105 tonnes during the month from 290,607 tonnes in May.

“The average price of latex concentrate recorded an increase of 479.90 sen per kg compared to May 2020 at 432.16 sen per kg.

“SMR20 also increased to 484.33 sen per kg compared to 470.13 sen per kg for the same period,” Mohd Uzir added.