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The Iran war may hit consumers where they least expect it: condom prices.
Karex, the world’s biggest condom maker, told Reuters it may soon raise prices by 30% as the Middle East conflict strains global energy and supply chains.
The warning emphasizes how war increases costs, delays shipments and chokes off supplies. And the impact on condom prices highlights how even high-end consumer goods are caught up in the broader global disruption.
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A satellite image shows the Strait of Hormuz connecting the Persian Gulf to the Gulf of Oman, a vital sea route for the world’s energy supply. (Amanda Macias/Fox News Digital)
It all traces back to the Strait of Hormuz, an important artery for the world’s energy supply, where shipping has slowed dramatically. The shipping lane is surrounded by Iran, Oman and the United Arab Emirates and is highly contested during the conflict as ships – mainly those carrying oil and other fuels – are prevented from passing through the disputed waterway.
The bottle drives up the cost of petroleum-based products like plastics and rubber, found in everything from medical supplies to household items to clothing and beauty.
That creates a one-two punch – high costs and shipping delays that reduce supply and drive up prices.
Due to these pressures, Karex CEO, Goh Miah Kiat, said that the inflation has made him moderate the price increase.
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Karex Berhad, a Malaysian company, is widely recognized as the world’s largest condom manufacturer. It produces more than 5 billion condoms every year and exports them to more than 130 countries around the world. (Samsul Said/Bloomberg via Getty Images)
Kiat says the conflict has pushed aluminum used in foil packaging to a four-year high and silicone oil, a key ingredient in condoms, has risen nearly 30%. The lack of synthetic rubber used in some non-latex condoms greatly increases the difficulty.
Karex, a Malaysia-based company that produces more than 5 billion condoms every year and exports to more than 130 countries, is struggling to keep up as demand outstrips demand. Karex offers the largest brands of condoms in the world, including Trojan and Durex.
Shipping delays exacerbate the lack of access for these products to customers, as there are more goods stuck at sea than reaching the shelves. Karex products to the US and Europe take two months to arrive, while developing countries already facing shortages are seeing much longer delays.
Karex CEO Goh Miah Kiat warns that rising raw material costs are driving up production costs, as war-related global supply disruptions plague the industry. (Jim Watson/AFP/Getty Images)
There is growing concern that the crisis could affect some of the world’s most vulnerable people as Karex helps provide aid to the United Nations.
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Karex also produces personal lubricants, catheters, test covers and gloves, emphasizing the wider impact the disorder can have beyond condoms.
For consumers, that can mean paying more at the checkout counter for a basic health product.
