Cost for soy globally continues to skyrocket in 2021 and is now up over 60% since July 2020. There are three primary issues driving extreme demand on soy based products.
1) There has been an overall increase in general demand for soy globally:
2) Severe drought has impacted large soy producing farms, significantly reducing supply.
3) New global regulations related to emissions have substantially increased demand for soy oils as a component for biodiesel.
The rapid increase of demand for soy has also resulted in variable consistency of wax coming from our suppliers. The variables of our raw material requires us to do additional processing to the wax before using for our candles, and has also added to an increase in our cost.
We will continue to monitor global soy commodities and wax pricing in our effort to keep our costs as low as possible and as always are seeking to find new, renewable plant based wax sources for use in our candles. Despite our best efforts to avoid pricing changes, the insurmountable increase in costs requires us to adjust our product pricing accordingly.
Effective July 20, 2021 we have increased the retail price of our candles to reflect the increase in our costs. We appreciate your understanding and support during these challenging times. We are exploring several new candle design options that will allow us to offer a great smelling candle at a reasonable price, while still planting a tree for each one we make. Stay tuned!