Malaysian firm Karex Bhd, the largest producer of condoms globally, is preparing to increase its prices by between 20% and 30%.
The company’s chief executive has warned that further hikes may be necessary if the ongoing conflict in Iran continues to severely disrupt international supply chains.
Speaking to Reuters on Tuesday, CEO Goh Miah Kiat explained that Karex is currently experiencing a massive surge in demand. Skyrocketing freight costs and significant shipping delays have left many clients with dangerously low inventory levels.
“The situation is definitely very fragile, prices are expensive,” Goh stated. “We have...