The Surge In Demand For Rubber Gloves Will Boost Thai Rubber Exports

- Jul 18, 2020-

The new crown pneumonia epidemic continues to ferment, and the demand for rubber gloves has surged. On April 21, the Rubber Authority of Thailand stated that the Covid-19 pandemic has caused Thailand's rubber exports to be mainly driven by the increase in demand for rubber gloves from the global rubber industry. Just the day before, Thailand announced that it would spend 500 million baht to build a rubber glove factory.

The Acting Governor of the Rubber Authority of Thailand said that we have seen growth in Thailand's rubber exports, especially rubber gloves and synthetic rubber. He also stated that the increase in Thailand’s rubber exports is due to China’s resumption of manufacturing and Malaysia’s recent opening of its borders for rubber trade.

The Ministry of Commerce of Thailand stated in the report: Thailand’s exports of rubber products and processed rubber (such as car tires, rubber gloves, resistance bands and rubber bands) increased by 10% in the first two months of 2020, estimated to be $1.97. The main markets include the United States, China, Japan, the Association of Southeast Asian Nations (ASEAN) countries and Australia, where automobile tires account for 51% of shipments, followed by synthetic rubber and rubber gloves, which account for 19% and 11%, respectively.

A few days ago, the Thai Rubber Committee revealed that the Thai Rubber Committee decided to invest 35 billion baht (approximately 7.6 billion yuan) in the second phase of the rubber industry assistance budget to ease the economic pressure of rubber farmers during the new crown pneumonia epidemic and ensure that the income of rubber farmers is not low. At 60 baht/kg (approximately 13 yuan/kg). Prior to this, the Rubber Authority of Thailand had invested 25 billion baht (about 5.43 billion yuan) in the first phase, benefiting more than 1.7 million rubber farmers.

The global new crown pneumonia epidemic continues to spread, especially in European and American countries. The Thai government has strict epidemic prevention measures. Local natural rubber processing plants and trading companies can basically go to work normally. However, given the setbacks in global demand, some rubber processing plants have suspended or slowed down the process of purchasing raw materials. The purchase price of fresh glue is at a low level. The enthusiasm for cutting is small. The surge in demand for rubber gloves will further promote Thailand's rubber exports, and rubber farmers' sentiment in rubber tapping may be eased.