Sri Lanka’s rubber glove makers are becoming competitively priced for global buyers, with the Rupee down 6.7% against the dollar, rival currencies rising an average of 5.4%, and rubber futures pushing towards a 10-year high of S$2.16 per kilogram.
As the MYR, CNY, and THB appreciate against the dollar by 8%, 6.1%, and 2%, respectively, gloves from Malaysia, China, and Thailand become more expensive for buyers in the United States and Europe, while Sri Lankan gloves, priced in a weakening Rupee, get cheaper by comparison without a single price cut.
“The appreciation of the MYR, THB, and CNY against the USD has enhanced the relative affordability of Sri Lankan gloves,” investment bank First Capital said in a May 2026 plantation sector update.
Dipped Products PLC, Sri Lanka’s largest rubber glove manufacturer, collects its revenue in dollars but sources 64% of its raw materials locally in Rupees, meaning a weaker Rupee directly cuts its cost base while keeping its export prices competitive. The company generates 87% of its glove segment revenue from value-added products in niche markets, giving it pricing power that mass producers in Asia lack. First Capital forecasts average selling prices rising 20%.
They also report that rising rubber prices will benefit plantation companies, too. Kegalle Plantations, which draws 57% of its revenue from rubber, stands to gain the most, followed by Agalawatte, Kotagala, and Horana Plantations, which derive 19%, 18%, and 14% of their respective revenue from the commodity.