It is understood that the latest data from the Malaysian Rubber Board show that the export value of Malaysian rubber products this year is expected to reach US$6 billion, an increase of 11.4% year-on-year.
DatoDr Zairossani Mohd Nor, Director-General of the Malaysian Rubber Bureau, said that rubber has been significantly affected by the epidemic, with low rubber prices and stagnant global demand. It is expected that production will fall by 14% this year and exports will drop by about 10%. However, Malaysia, as the world's largest producer of natural rubber gloves, has benefited from this, so that the overall export of the Malaysian rubber industry has not been greatly affected. He expects the rubber glove industry to grow by about 15% this year. The export value of the rubber products industry in Malaysia will reach about 26 billion ringgit, an increase of about 3 billion ringgit from 2019. Malaysia has changed from a producer of natural rubber to a consumer of natural rubber.
It is said that Malaysia's consumption in 2019 was 974,000 metric tons and the output was 640,000 tons. The annual output this year is expected to fall by 14% to about 550,000 tons.
Last year, the planting area of smallholders in Malaysia reached 1 million hectares, and the planting area of rubber plantations reached 73,000 hectares. Since 1990, the average annual decline has been 1.3% and 5.2%.