Condom Prices to Rise Due to U.S. – Iran War
Karex, the world’s biggest producer of condoms, is set to rise it prices sharply to 30% in the coming days due to the Iran war.
Goh Miah Kiat, the chief executive officer of Karex says the raw materials used in their production have sharply increased when the U.S.-Iran war started and haven’t dropped since then.
Karex, the Malaysian-based company is the leading company in the world’s condom production producing about 5 million condoms annually and distributing around the world.
Read also: Over 5,000 Diapers Seized by FDA in Temale Metropolis
According to Goh, the U.S.-Iran conflict, which has caused the closure of the Strait of Hormuz bringing the production of oil to a halt around the world is affecting them significantly.
Ammonia which is used to preserve latex and silicone-based products are raw material from oil products.
“In terms of war, condoms are used by many people because you don’t know whether you will get a job or not”, Goh told Bloomberg.
He added that the demand for condoms around the world has increased by 24% and production continues despite the war.
Also read: Police Rescue Abducted Nine-Year-Old Girl and Arrest Suspect at the airport
Goh urged its customers to continue patronizing them despite the increase and promised to reduce the price if the need arises.
Source: BBC
