MALAYSIA'S 2023 EARNINGS FROM RUBBER EXPORTS ESTIMATED AT RM20.08 BLN - MRC
Malaysia is estimated to have earned RM20.08 billion from rubber exports in 2023, with 59.1% or RM11.88 billion projected to come from rubber gloves, the Malaysian Rubber Council (MRC) said.
In a statement, the council said Malaysian rubber goods are exported to over 190 countries, with the United States (29%) and the European Union (19%) as the top two export destinations.
"MRC is committed to its vision of making Malaysia the top exporter of sustainably produced rubber products. With a focus on quality and sustainability, MRC promotes responsible business practices through environmental, social, and governance (ESG) initiatives while building strong relationships with stakeholders," it said.
MRC said the strong global demand for sustainability continues to grow, with consumers demanding environmentally and ethically sustainable products.
"Industries are urged to reduce environmental impact, uphold ethical conduct and do business without negatively impacting the environment, community, or society as a whole. As a significant contributor to Malaysia's economy, the adoption of sustainability and sustainable practices will be the vital way forward for the rubber industry,” it said.
Acknowledging this need for change, MRC held its inaugural two-day Rubber ESG Conference 2024 which ended, inviting industry stakeholders, experts, and leaders to promote, encourage and bolster the adoption of sustainability in the rubber industry.
With the tagline, "Navigating ESG for a resilient future of Malaysia's rubber industry", the conference explored how industry players and stakeholders harmonise sustainability efforts with ESG aspects, social compliance, and resilient practices.
Its chairman Datuk Seri Mohamad Suparadi said the objective is to ensure long-term success while creating a positive impact on society and the environment.
"This involves investing in research for greener alternatives, implementing strategies to minimise waste and conserving energy, and if possible, to convert them to other by-products,” he said.