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World's biggest maker of condoms Karex set to raise prices due to Iran war
The world’s largest condom maker says raw-material and shipping costs have jumped, and demand has risen about 30% this year, Goh Miah Kiat said.
- Malaysia's Karex Bhd, the world's top condom producer, plans to raise prices by 20% to 30% due to Iran war-related supply chain disruptions, CEO Goh Miah Kiat said on Tuesday.
- The Iran war strains energy and petrochemical flows from the Middle East, disrupting raw material procurement. Since the conflict began in late February, Karex has faced surging costs for synthetic rubber, nitrile, and packaging materials.
- Global demand for condoms has risen about 30% this year, while shipments to Europe and the United States now take close to two months to arrive compared to one month previously.
- "We're seeing a lot more condoms actually sitting on vessels that have not arrived at their destination but are highly required," Goh said. Developing countries face critical shortages due to transit delays.
- Karex produces over 5 billion condoms annually for major clients including Durex, Trojan, and Britain's NHS. Global stockpiles previously dropped significantly due to spending cuts by the United States Agency for International Development last year.
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Karex, the world's largest condom manufacturer, plans to raise its prices by up to 30%, and even more, if supply chain interruptions are prolonged due to the war in Iran and the Middle East. For the Malaysian company, responsible for 20% of the global market and supplier of leading brands such as Durex or Trojan, there is a perfect storm due to the rise of raw material, energy, transportation and a surge of demand for lack of stock.Keep reading.…
Condom prices set to surge 30% due to Iran conflict
The CEO of the world’s top condom producer has stated that condom prices could rise by up to 30 per cent due to supply chain disruptions caused by the current conflict in Iran. Karex Berhad, based in Malaysia, produces more than 5 billion condoms per year and is a major supplier to leading brands including Durex and Trojan, as well as national health systems like the NHS, from the UK… Source
The world's largest condom manufacturer is preparing to raise prices by almost a third after the war in Iran caused costs to skyrocket.
World's largest condom making company set to raise prices due to war in Iran
The world's largest manufacturer of condoms has warned its prices could jump by 30 per cent or more should the ongoing Iran conflict continue to restrict access to essential production materials
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