Not just gasoline and fertilizer, Iran conflict driving up condom prices
The CEO of the world's largest condom producer said that supply chain restraints are depleting stockpiles of condoms and driving up prices.
The war in Iran has impacted prices on a number of petroleum-based goods as blockades by both the U.S. and Iran prevent exports from moving through the Strait of Hormuz.
Besides fertilizers and gasoline, now condom users will be paying higher prices. The CEO of Malaysia's Karx Bhd, which supplies major U.S. brands including Durex and Trojan, said the company plans to increase prices by 20% to 30% if disruptions in its supply chains continue.
Karex CEO Goh Miah Kiat told Reuters that rising freight costs and shipping delays have depleted condom stockpiles.
"The situation is definitely very fragile, prices are expensive," Goh said.
Karex is the world's top condom manufacturer, producing 5 billion condoms annually.