Condom prices could skyrocket, thanks to Iran war
A prominent condom manufacturer warns that war could affect your sex life.
Get ready to pay a little more for safe sex in the coming months, as the price of condoms will increase dramatically due to the Iran war. The world’s largest condom manufacturer has warned that it will raise prices by up to 30 percent due to supply chain disruptions caused by the blockade of the Strait of Hormuz.
Karex, which produces about five billion condoms annually, blamed the war for rising prices for raw materials needed to make condoms, including nitrile and synthetic rubber, packaging materials, silicone oil and aluminum foil.
“Some raw material prices have increased by 100 percent. We have no choice but to make adjustments now,” Goh Miah Kiat, the Chief Executive of Karex, told The New York Times on Thursday.
Goh said his company produces about a fifth of all condoms produced in the world, and a disruption in the supply of any of the materials used in condom production would not only affect prices for customers, but could also halt production and affect jobs.
“There will be jobs that will be at stake,” Goh said.
Malaysian company Karex manufactures condoms under well-known brands such as “Trojan” and “Durex,” producing more than 5 billion condoms annually and exporting them to more than 130 countries.
Goh said demand for condoms had increased this year, and warned that customers could start to panic if the war in Iran did not end soon.
“Everyone hopes that this ends fast and swiftly,” he said.
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