The world’s biggest maker of condoms has warned of a global shortage as supply falls by almost 50% while its stockpile is set to last for just another two months.
Malaysia-based Karex Bhd which makes one out of every five condoms worldwide, only restarted its factories after a week-long closure, working with just half its workforce to comply with a lockdown that the country imposed to contain the spread of the coronavirus.
The company said condoms are mainly made in China and India, which are both heavily impacted by the pandemic.
Group Chief Executive Officer at Karex Goh Miah Kiat told Bloomberg that demand is growing at “double digits” as governments around the world issue stay-at-home notices and many people abstain from having children due to the uncertain future.
The company produces for brands like Durex as well as its own line of speciality condoms such as Durian-flavored ones.
It churns out more than 5 billion condoms a year and exports them to more than 140 countries.
That has become more challenging as governments shut borders and airlines cancel flights.
[Source: Bloomberg]
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