World’s Largest Condom Maker Says Iran War Is a Problem
(Getty Images / Sasun Bughdaryan)
A major global supplier of condoms is warning that prices could soon rise sharply as a result of the ongoing conflict involving Iran. Karex, a Malaysian company that produces more than five billion condoms annually, manufactures products under its own brands—ONE, Trustex, and Carex—as well as for well-known labels and international health organizations. The company is now considering price increases ranging from 20% to 30%, with the possibility of even higher adjustments.
Chief executive Goh Miah Kiat said the conflict has driven up the cost of essential materials used in production, including synthetic rubber, nitrile, foil packaging, and silicone oil. Because of these rising expenses, he indicated the company has little option but to pass the added costs on to buyers.
Reports indicate that the higher prices could take effect within the next few months. Goh described the move as one of the most significant pricing changes the company has made in years. Analysts note that the situation highlights how instability in the Middle East is affecting a wide range of everyday consumer goods.
Despite the expected price hikes, Goh does not believe demand will fall. He suggested that during uncertain economic times, people may be even more motivated to use protection, as concerns about financial stability make the prospect of supporting a child more challenging.
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