KUALA LUMPUR (May 5): As more new capacities are available in the market, rubber glove prices have started falling, said Supermax Corp Bhd.
"The glove prices have since dropped by between 15% and 25%. Currently, the spot market prices are lower than the contracted prices," said the rubber glove maker in its quarterly results' announcement.
The group, which posted a net profit of RM1 billion for the third quarter ended March 31, 2021 (3QFY21), said it anticipates the competition to intensify going forward.
There have been more new glove players jumping on the bandwagon in view of the surge in demand. In addition, the current players are increasing capacities in a large scale, especially players who are public-listed companies based in China, Malaysia and Thailand, Supermax commented.