Manforce condoms are going to be expensive
The ongoing tension in Gulf countries is now going to affect the pockets of the common man. Due to the huge rise in the prices of crude oil in the international market, the cost of many everyday items has increased. The heat of this inflation has now reached India's largest condom manufacturing company Mankind Pharma also. This company, which manufactures condoms under the brand name Manforce, has about 30 percent share of the country's market. The top management of the company has made it clear that if the global situation continues like this, they will be forced to increase the prices of their products.
Middle East tension increasing inflation
The war, which started in late February, has badly affected the global supply chain. Due to this geopolitical turmoil, the prices of crude oil have increased by 50 percent and have crossed $ 100 per barrel. Generally the main base of condom is natural latex. Despite this, many petroleum related raw materials are used extensively in the process of making it. These include special types of chemicals, lubricants and packaging items. The cost of crude oil means a huge increase in the manufacturing cost of all these things.
The company has a few months of stock left
According to Sheetal Arora, Chief Executive Officer (CEO) of Mankind Pharma, at present the company has enough inventory to meet the demand for the next few months. But he also says that if the war prolongs and oil prices remain high, some part of the increased costs will have to be passed on to customers. However, no time limit has been set for the price increase yet.
If we look at the financial results, the cost of raw materials remained almost stable in the fourth quarter of Mankind. There was an increase of less than 0.5 percent on quarter-to-quarter or annual basis. Currently a pack of 10 Manforce condoms costs around Rs 100 to Rs 150, which is one of the most affordable options in the Indian market.
Let us tell you that the problem of rising cost of raw materials and shipping is not limited to Indian companies only. The world's largest condom manufacturing company, Malaysia's 'Karex', has also planned to increase the prices of its products by 20 to 30 percent. va
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