Latest news with #MalaysianRubberGloveManufacturersAssociation
Barnama
5 days ago
- Business
- Barnama
Rubber Market Seen Trading Mixed Next Week Amid Continued Caution
By K. Naveen Prabu KUALA LUMPUR, July 19 (Bernama) -- The Malaysian rubber market is expected to trade mixed next week amid continued caution over US tariffs, said the Malaysian Rubber Glove Manufacturers Association (MARGMA). Improved indicators from the United States (US) and China, alongside continued growth in the electric vehicle (EV) sector, could offer price support, it said. However, it cautioned that the full impact of US trade tariffs remains unclear, adding to overall market uncertainty. 'The overall market direction will largely depend on further developments surrounding US trade policy and the actual economic consequences of the tariffs,' MARGMA said. Industry expert Denis Low agrees that the market is likely to remain cautious and range-bound, but with a slight upward bias on demand-side optimism and supply-side constraints. 'The volatility of the exchange rate will also play a significant role, as it is increasingly driven by geopolitics rather than real economic fundamentals,' he added. Low said he expects a potential technical rebound in prices due to tighter supply arising from adverse weather conditions and regulatory pressure. 'There ought to be a technical rebound on rubber demand and prices, as supply is bound to be tight due mainly to the climate change phenomenon and the approaching EU Deforestation Regulation (EUDR) deadline,' he added. Low noted that compliance with the EUDR remains a challenge for many producers, with concerns over governance and readiness potentially affecting exports to Europe when enforcement begins in January 2025. On a week-to-week basis, the Malaysian Rubber Board's reference price for Standard Malaysian Rubber 20 (SMR 20) increased by 10 sen to 736.00 sen per kilogramme (kg), while latex in bulk went up by five sen to 571.50sen per kg. -- BERNAMA
Free Malaysia Today
15-07-2025
- Business
- Free Malaysia Today
US group fights back after Malaysian plea for tariff exemption
Malaysian rubber glove manufacturers recently urged the government to lobby Washington for exemptions, as higher tariffs could inflate costs in the US. (Bernama pic) PETALING JAYA : A US medical supply lobby group has called on the US government to reject Malaysia's push for special tariff exemptions on rubber gloves, saying such 'carve-outs' would hurt the US job market and supply chain resilience. The American Medical Manufacturers Association, which represents producers of medical supplies and personal protective equipment, urged the Trump administration to maintain the proposed 25% tariff on imports, including those from Malaysia, despite lobbying efforts from the Malaysian glove industry. 'There is no justification for carve-outs or special treatment when domestic manufacturers can meet the needs of our health care and frontline workers,' said AMMA executive director Eric Axel in a statement. 'This is a blatant attempt to secure non-competitive, preferential treatment for Malaysian exporters at the expense of American jobs, innovation, and supply chain security.' This statement comes in response to a letter from the Malaysian Rubber Glove Manufacturers Association urging the Malaysian government to lobby Washington for exemptions, warning that higher tariffs could disrupt healthcare access and inflate costs in the US. But Axel described the letter as fear-mongering, with a false premise that only Malaysian suppliers could ensure reliable access to quality protective equipment. 'Our US companies are ready to meet the demand—no exceptions, no excuses,' the group said. The group alleged that Malaysia had refused to offer open market access in return, and that protected contracts for indigenous population was a 'long-standing sore point in talks.' The association also raised concerns about Malaysia's strengthening ties with BRICS, the grouping of emerging economies. Malaysia was accepted last year as one of the 13 BRICS partner countries. Executives with US glove companies in Malaysia agreed with the American association's views. Donny Chan of Maxter Healthcare, which operates both in Malaysia and the US, said: 'We believe the future of manufacturing medical supplies and PPE for the USA is in the USA.' He said the company's US$350 million Texas facility was proof that global companies 'should invest in America'. Alison Bagwell, CEO of Nephron Nitrile in South Carolina, added: 'If you want access to the US market, you play by the same rules. That means quality, transparency and accountability.'
The Star
10-07-2025
- Business
- The Star
Margma calls for tariff talks with US over glove duty hike
KUALA LUMPUR: The Malaysian Rubber Glove Manufacturers Association (MARGMA) has urged the government to promptly enter sectoral tariff negotiations with the United States (US) following Washington's decision to raise import duties on rubber gloves to 25 per cent from Aug 1, 2025. MARGMA president Oon Kim Hung said members were ready to support the government's efforts in engaging with the US to seek an exemption or, at minimum, maintain the existing 10 per cent tariff. "These gloves are not luxury items but essential medical supplies. A 25 per cent tariff will disrupt supply chains, drive up healthcare costs, and hinder patient safety,' he said in a statement today. The association said Malaysia's glove industry has long collaborated with the Malaysian Rubber Board (MRB) and the Ministry of Investment, Trade and Industry (MITI) to curb trans-shipment abuse and maintain its reputation for quality and responsible manufacturing. MARGMA called on Malaysia's trade negotiators to seek the same sector-specific consideration granted to other strategic industries, to ensure continued access for US healthcare providers to Malaysian-made gloves. It noted that Malaysia supplies nearly half of the US demand for natural rubber and nitrile gloves - critical healthcare products subject to strict US Food and Drug Administration (FDA) standards. With US demand projected by MITI to reach US$4.17 billion by 2030, MARGMA warned that higher tariffs could threaten patient care and drive up costs for hospitals and other healthcare providers.(US$1 = RM4.24). "Rather than undermining US manufacturing, Malaysian glove makers have demonstrated their commitment to the American market. For example, Supermax Corporation Bhd has invested US$350 million in a production facility in Texas, highlighting our industry's long-term dedication to supporting US healthcare,' Oon said. He added that MARGMA reaffirmed its commitment to a sustainable global supply and expressed hope for a tariff outcome that balanced fair trade with public health priorities in both countries. - Bernama
New Straits Times
10-07-2025
- Business
- New Straits Times
MARGMA urges swift tariff talks with US to safeguard medical glove supply
KUALA LUMPUR: The Malaysian Rubber Glove Manufacturers Association (MARGMA) is calling on the Malaysian government to act swiftly and enter sector-specific tariff negotiations with the United States following the announcement of a steep import duty hike to 25 per cent, effective 1 August 2025. Malaysia supplies nearly 50 per cent of the US market's natural rubber and nitrile gloves, which are essential medical products that must meet stringent FDA standards. According to the Ministry of Investment, Trade and Industry (MITI), US demand for gloves is projected to reach US$ 4.17 billion by 2030. MARGMA warned in a statement that the sudden tariff increase could undermine patient care and raise costs for hospitals and healthcare providers across the US. Far from threatening US manufacturing, Malaysian glove makers have demonstrated strong, long-term commitments to the American market. MARGMA highlighted Supermax Corporation Bhd's US$ 350 million production facility in Texas as clear proof of the industry's role in supporting US healthcare resilience. "MARGMA members stand ready to work with both governments to secure an exemption or at minimum maintain a 10 per cent tariff on rubber gloves", said Oon Kim Hung, the association's president. "These gloves are not luxury items but essential medical supplies. A 25 per cent tariff will disrupt supply chains, drive up healthcare costs and hinder patient safety." MARGMA noted that Malaysia's rubber glove industry works closely with the Malaysian Rubber Board (MRB) and MITI to uphold high standards and prevent trans-shipment abuse, protecting the industry's reputation for quality and ethical manufacturing. The association urged Malaysia's trade negotiators to push for the same sector-specific considerations granted to other critical industries, ensuring that US healthcare providers continue to have reliable, affordable access to world-class Malaysian gloves. MARGMA remains committed to a sustainable global supply chain and calls for a balanced tariff outcome that upholds fair trade while addressing the urgent public health needs of both nations.
Barnama
24-06-2025
- Business
- Barnama
Rubber Prices Likely To Trend Lower Next Week Due To Geopolitical Tensions
By Abdul Hamid A Rahman and K. Naveen Prabu KUALA LUMPUR, June 21 (Bernama) -- The rubber market is expected to trend lower next week, weighed down by escalating geopolitical tensions in the Middle East, according to the Malaysian Rubber Glove Manufacturers Association (MARGMA). A spokesperson from MARGMA said the market sentiment remains fragile and continues to pressure investor confidence and business activities. 'The market may experience a downtrend next week due to escalating geopolitical tensions, persistent global economic uncertainty, and weakening demand from China and the United States. 'The market will remain highly sensitive to regional rubber futures, movements in the ringgit against the US dollar, and fluctuations in crude oil benchmarks,' she said. Meanwhile, industry expert Denis Low said the rubber market is expected to trade cautiously with a lower bias next week, with replenishment activities serving as the primary driver. 'Weather disruptions are another key factor to watch, as the Thai Meteorological Department has warned of intensified Southwest Monsoon activity, which could bring heavy rainfall and strong winds to rubber-producing regions,' he said. On a week-to-week basis, the Malaysian Rubber Board's reference price for Standard Malaysian Rubber 20 (SMR 20) rose by half a sen to 703.5 sen per kilogramme (kg), while latex in bulk increased by 10 sen to 589.0 sen per kg. -- BERNAMA
