Global Condom Prices Set to Rise 30% Amid Middle East Conflict and Hormuz Closure

Malaysia’s Karex Bhd, the world’s largest condom manufacturer, plans to raise prices by 20% to 30% and possibly more if supply chain disruptions linked to the Iran war persist, the company’s chief executive said.

Karex, which produces more than five billion condoms annually and supplies major brands including Durex and Trojan as well as the UK’s National Health Service, warned that production costs have risen sharply since the start of the conflict due to disrupted access to raw materials derived from oil, such as ammonia used to preserve latex and silicone-based lubricants.

The CEO, Goh Miah Kiat, told Reuters and Bloomberg that global oil supplies have been severely disrupted since Iran responded to US and Israeli airstrikes with threats to target vessels in the Strait of Hormuz, effectively closing the waterway and causing widespread supply chain issues.

Around a fifth of the world’s crude oil and liquefied natural gas normally passes through the Strait of Hormuz, and Karex relies on petrochemicals transported via this route for its manufacturing process.

The company has also seen demand for condoms rise by about 30% this year, which Goh attributed to economic uncertainty during times of conflict, noting that “in bad times, the need to use condoms is even more because you’re uncertain with your future, whether you’d still have a job next year.”

Higher freight costs and shipping delays have worsened shortages and left many customers with lower stockpiles than usual, forcing Karex to transfer increased costs to consumers.

Karex confirmed it has experienced rising costs for synthetic rubber, nitrile, packaging materials, aluminium foils, and silicone oil since the conflict began in late February.