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14 RUBBER PRODUCT TRADE STATISTICS Major Destinations of Malaysia’s Rubber Product Exports (RM’000) Country January-March 2008 January-March 2007 % Change % Share (2008) EU-27 918,325 787,205 16.7 33.3 USA 662,229 616,136 7.5 24.0 ASEAN 223,245 210,738 5.9 8.1 Japan 133,712 141,815 -5.7 4.8 Hong Kong, SAR 104,078 101,663 2.4 3.8 Australia 90,023 66,937 34.5 3.3 Brazil 86,917 59,417 46.3 3.2 China, P.R. 67,232 61,081 10.1 2.4 Canada 44,203 45,492 -2.8 1.6 South Korea 35,852 33,348 7.5 1.3 Taiwan 28,067 28,699 -2.2 1.0 Turkey 25,581 27,302 -6.3 0.9 Subtotal 2,419,464 2,179,833 11.0 87.7 World Total 2,757,186 2,484,773 11.0 100 Source: Department of Statistics, Malaysia Malaysia’s Exports/Imports of Rubber Products (RM’000) Exports Imports 2008 2007 2008 2007 January 925,755 828,885 249,324 201,331 February 882,574 722,157 194,444 152,080 March 948,836 933,729 269,749 212,695 January-March 2,757,186 2,484,773 713,517 566,106 %Change (January- March) 08/07 Source: Department of Statistics, Malaysia 11.0 26.0
SEMINARS/WORKSHOPS Panel Discussion on Rubber Pricing (24 January 2008) Given increasingly volatile rubber prices, MREPC took the initiative to organize a panel discussion on rubber pricing on 24 January 2008 for the Malaysian rubber product manufacturers. Price volatility makes business planning difficult and it also introduces further risk in doing business. Rubber products manufacturers responded positively to the event. A total of 38 participants from 32 companies attended the half-day programme. The key topics discussed were price volatility, how it could be managed, the supply and demand situation, and the outlook for 2008. As the chairperson of the panel discussion, the CEO of MREPC, Dato’ Teo Suat Cheng, started off with a brief introduction of the three distinguished speakers before each of them made their presentations. They were Mr. Benson Lim Beng Seng, the General Manager of R1 International Malaysia, speaking on price volatility and factors affecting rubber prices; Mr. Teo Soon Huat, a Director of Lee Rubber Selangor, dwelling into the current rubber price development and the outlook for 2008, and Mr. Lim Kwee Shyan, the Managing Director of Perusahaan Pelindung Getah., sharing with the participants his strategies in managing price volatility. Dato’ Teo (second from right) with, from left, Mr. Benson Lim, Mr. K.S. Lim and Mr. S. H.Teo During the panel discussion, both Mr. Benson Lim and Mr. Teo stressed that rubber prices were likely to continue rising over the short and medium terms. They highlighted that China was the main driving force behind the skyrocketing prices of rubber. Meanwhile, Mr. Lim expected that volatility in rubber prices would be subsiding over time. However, Mr. Lim said it was up to individual companies to device their own methods of managing price volatility and assessing Mr. Benson Lim giving his presentation the inherent risk in each of the methods. Manufacturers could employ different weights to buy in spot markets, forward months and use PMA (previous average month) price as a basis. One of the participants pointed out that less volatility in price was important to the manufacturers in pricing their rubber products. With regard to this, Mr. Lim advised the manufacturers to have proper planning and a reliable customer base. While none of the speakers would commit to a prediction of the range rubber price would be for 2008, the participants gathered some useful pointers from the speakers regarding strategies and approaches to manage volatility and mitigate any deleterious effects that may arise from it. Participants at the workshop 15
Page 1 and 2: ISSUE 2 A quarterly publication of
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