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KAREX, THE LARGEST condom manufacturer in the world, has said it plans to raise its prices by 20% to 30% because of cost increases and supply chain disruptions resulting from the US-Israeli war on Iran.
The Malaysian company makes 5 billion condoms a year and supplies brands like Durex and Trojan.
“The situation is definitely very fragile, prices are expensive… We have no choice but to transfer the costs right now to the customers,” CEO Goh Miah Kiat told the Reuters news agency.
Goh said that demand has increased as freight cost increases and shipping delays have left Karex’s customers with low stockpiles.
“We’re seeing a lot more condoms actually sitting on vessels that have not arrived at their destination but are highly required,” Goh said, adding that less wealthy countries are being most affected.
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