Malaysia's rubber products export is expected to hit 11.1 billion ringgit (3.26 billion US dollars) with rubber gloves generating exports valued at 7.7 billion ringgit (2.26 billion US dollars) in 2010, local media reported Tuesday.
The rubber industry was expecting a considerable improvement this year, given the recovery in the global automotive sector and the expected sterling performance of the rubber gloves field, Teo Suat Cheng, CEO of Malaysian Rubber Export Promotion Council (MREPC), was quoted by the local daily The Star as saying.
According to the report, export of rubber products is expected to have reached 10.56 billion ringgit (3.11 billion US dollars) in 2009, with rubber gloves likely to have exceeded 7.1 billion ringgit (2.09 billion US dollars).
The export value was short of the 11.2 billion ringgit (3.29 billion US dollars) achieved in 2008 due to tight labour supply, increased cost of utilities, increasing competition from neighbouring countries and hard market conditions in the local traditional markets.
Meanwhile, Malaysian Plantation Enterprises and Commodities Minister Bernard Giluk Dompok said local rubber manufacturers needed to ensure that their products met stringent quality requirements.
Promotions have to be more aggressive and consistent to maintain the country's market share in the already established and emerging markets like China, Russia, India and Brazil, in order to remain competitive, said the minister.
Dompok also said in the past decade, local rubber products manufacturers managed to double the export value in 2009 and they should reap benefits provided by MREPC.
(Source: irco.biz)
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