The world's largest condom producer will raise prices 20-30% as a result of the Iranian war
The world's largest condom manufacturer, Karex Berhad, has announced its intention to raise prices by 20-30% due to supply problems that the Iranian war is causing, and has warned that if the problem persists, they could rise even further.
The head of the company, Goh Miah Kiat, has said in recent days that rising fuel prices and rising commodity prices have increased production costs and ensured that they are obliged to take action.
The conflict in the Middle East has made synthetic rubber and nitrile, packaging materials, lubricants and so many other materials used in the manufacture of condoms more expensive, and the shortage is beginning to be felt.
Goh has warned that the situation is "very fragile" because rising fuel prices affect the entire production chain and has acknowledged that "they have no choice but to transfer this increase in cost to the price of products."
The Malaysian company produces 5 billion condoms a year and is a supplier of leading brands like Durex or Trojan.
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