It’s Not Just Oil Prices... Iran War Sends Condom Prices Soaring

Amid growing global supply chain instability stemming from the Iran war, there are projections that condom prices could rise by as much as 30%.

On April 23 (local time), international media outlets such as the BBC and The New York Times reported that Malaysian condom manufacturer Carex has indicated it may raise product prices if supply chain disruptions continue as a result of the ongoing war.

Carex is known as the world's largest condom manufacturer, producing more than 5 billion condoms annually. It supplies products to major brands such as Durex and Trojan, and also provides to the UK National Health Service (NHS) and international health organizations. Reuters Yonhap News

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Previously, Mia Kiat, Chief Executive Officer (CEO), stated in a recent interview with Reuters that Carex could implement a 20-30% increase in product prices should supply chain disruptions persist. Carex is known as the world's largest condom manufacturer, producing more than 5 billion condoms annually. It supplies products to major brands such as Durex and Trojan, and also delivers to the United Kingdom's National Health Service (NHS) and international health organizations. The CEO explained, "The current situation is highly unstable and prices have risen," adding, "At the moment, we have no other choice but to pass the costs onto customers."

The primary factor behind the price hike pressure is the increase in raw material costs. Condom production requires not only natural latex but also synthetic rubber, nitrile, aluminum foil for packaging, and silicone oil used as a lubricant ingredient. Since the onset of the Iran war, the energy and petrochemical supply chains in the Middle East have been destabilized, leading to an overall increase in related costs.

Mia Kiat, Chief Executive Officer (CEO). Photo by Reuters and Yonhap News Agency

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Transportation disruptions are also adding to the burden. According to Carex, the delivery time for products destined for Europe and the United States has recently increased from about one month to nearly two months. In some cases, products remain on ships and fail to arrive at their destinations on time.

Tensions surrounding the Strait of Hormuz are also cited as factors causing instability in global logistics and energy prices. According to the U.S. Energy Information Administration (EIA), in 2024, an average of 20 million barrels of oil per day passed through the Strait of Hormuz, accounting for about 20% of global petroleum liquid fuel consumption. The strait is a critical passageway for crude oil and liquefied natural gas from the Middle East.

Meanwhile, Carex revealed that condom demand has increased by about 30% this year. Transportation delays have reduced customer inventories, while reductions in aid budgets have decreased reserved stock in some regions, both of which appear to be fueling supply instability. However, the company has not yet finalized whether or when to implement actual consumer price increases. Even if manufacturers raise shipment prices, the timing of final retail price adjustments may differ depending on brand contract terms, distributor inventory levels, and national sales structures.

Carex plans to respond to demand by expanding production for the time being. Although the company has secured the necessary inventory so far, there are concerns that if the Iran war is prolonged and logistics disruptions persist, further price increases may be unavoidable. Some experts worry that a prolonged condom supply shortage could exacerbate public health issues in low-income countries and regions with vulnerable healthcare infrastructure, including the spread of sexually transmitted diseases and an increase in unintended pregnancies.

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