Malaysia-based Karex Bhd, the world's largest condom producer, plans to raise its prices by 20% to 30%. Chief Executive Goh Miah Kiat stated that prices could increase even further if supply chain disruptions persist.
The price hikes are driven by increased manufacturing costs and shipping disruptions caused by the Iran war. Additionally, rising freight costs and shipping delays have left many customers with lower stockpiles than usual, leading to a surge in demand.
Karex produces more than five billion condoms annually. The company is a supplier to the NHS and leading global brands, including Durex and Trojan.