World's biggest maker of condoms Karex set to raise prices due to Iran war
Goh Miah Kiat said higher freight and raw-material costs are forcing Karex to pass on expenses as global condom demand rises 30%.
- 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.
151 Articles
151 Articles
The head of the world's largest condom manufacturer, Karex, says the company will raise prices by 30 percent or more if the war with Iran continues to disrupt supplies of raw materials used in its products, the BBC reports.
El Periódico
lacronicabadajoz.comHIV prevention in Africa can be threatened by the decision of Malaysian company Karex, the world's largest producer of condoms, to increase the price of condoms by 30% due to the war in Iran, warned the public health agency of the African Union (AU). "Imagine the impact this could have on our community, its use could decrease, thus exposing our community and our population to the risk of contracting sexually transmitted infections," declared in …
The war in the Middle East leads to supply shortages, which make prices rise. These products could become more expensive.
The manufacturer Karex is a supplier of brands such as Durex or Trojan, whose annual production of condoms ranges around 5.5 billion units.
Coverage Details
Bias Distribution
- 56% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
