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The world’s top condom producer, Karex Berhad, has said it has planned to increase its prices by 20 per cent to 30 per cent due to supply chain disruptions as a result of the Iran war.
The condom company, based in Malaysia, produces over five billion condoms annually and is a major supplier to leading brands like Durex and Trojan. They also supply state health systems such as Britain’s NHS and global aid programmes run by the United Nations.
He added that Karex is witnessing a surge in condom demand due to rising shipping costs and delays, leaving many of its customers with lower-than-usual stockpiles.
“The situation is definitely very fragile, prices are expensive. We have no choice but to transfer the costs right now to the customers,” he said.
Kiat expressed that Karex’s shipments to destinations such as Europe and the United States are now taking almost two months to arrive, compared to a month previously.
“We’re seeing a lot more condoms actually sitting on vessels that have not arrived at their destination but are highly required,” he stated.
Furthermore, the CEO noted that many developing countries do not have enough stock because it takes longer for products to reach them. He said Karex has enough supplies for the next few months and is looking to boost output to meet the rising demand.
The company becomes the latest addition to a growing list of enterprises, among them medical glove manufacturers, facing supply chain disruptions owing to the war in Iran’s impact on raw material procurement.
