Paraffin Costs on the Rise
April 25th, 2008 - Alan Wallace
Paraffin prices are expected to rise by another 10-20% by the end of May. Up until now, paraffin has seen only moderate increases in price when compared to the volatile soy wax prices. While Peak is committed to providing raw materials at competitive prices, candle makers who depend on paraffin-based waxes should prepare for these increases, which are driven largely by increasing fuel and transportation costs. Historically, Peak has attempted to absorb as much of the increased costs as possible. However, since Peak moves such a large volume of wax, our prices are very sensitive to current market conditions.
Filed under: Peak Blog
The number of wax price increases we've seen over the past two years is a shame. IGI dominates the market and almost completely controls the wax prices. They have practically no competition anymore. The increases will be making it a bit more difficult for some of us smaller candle makers to survive.