Global condom prices for brands like Durex, One, and Carex will increase by 30% over the next two to three months. Goh Miah Kiat, CEO of the Malaysian company Karex Bhd, announced the price hike in an interview with Bloomberg. The company is the world’s largest condom manufacturer, supplying approximately 20% of the global market.
Reasons for the Record Condom Prices Increase
The head of Karex Bhd. stated that the company is forced to take radical measures. “This is certainly one of the most significant price adjustments we have made in a very long time,” Goh Miah Kiat said.
The primary cause is a sharp rise in production costs driven by a shortage of specialized chemicals derived from oil. Components such as ammonia (used to preserve latex), ethanol, and silicone oil (for lubrication) are critical for production. This shortage has caused raw material costs to surge across the entire supply chain.
Risks of Further Condom Prices Hikes
The current 30% increase may not be the last. The CEO noted that logistics disruptions are being compounded by rising shipping freight costs. If the war in Iran continues and raw material supplies do not stabilize, wholesale prices will be increased again.