Condom prices could rise 30% due to Iran war, says world’s top producer Karex
Summary
Malaysia’s Karex, the world’s largest condom maker, plans to raise condom prices by 20% to 30% due to supply problems caused by the war in Iran. The company is facing higher costs for raw materials and shipping delays, while demand for condoms has increased worldwide.Key Facts
- Karex produces over 5 billion condoms each year and supplies major brands like Durex and Trojan.
- The war in Iran has disrupted supplies of raw materials needed for condoms, such as synthetic rubber and nitrile.
- Shipping times to places like Europe and the U.S. have doubled from about 1 month to 2 months.
- Freight cost rises and delays have reduced condom stocks globally, especially in developing countries.
- Demand for condoms has grown by about 30% this year.
- Karex says it has enough supplies for a few months but is working to increase production.
- Price increases are necessary to cover higher costs for materials, packaging, and shipping.
- Cuts in foreign aid last year also lowered condom stockpiles worldwide, adding pressure to supply.
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