Brad Ford Posted March 7, 2008 Share Posted March 7, 2008 Soy/Veggie waxes are at all time highs...you haven't seen anything yet. It will very soon be much worse. My advice...stock up now. The biggest one-time increase I have ever seen is heading down the pike. All the old soy contracts are expiring...the new ones are close to double in price. If you want or need to stay "soy" based...plan accordingly. This is all I can/will say right now. Quote Link to comment Share on other sites More sharing options...
love_the_light Posted March 7, 2008 Share Posted March 7, 2008 I just wanted to let anyone know, who uses EcoSoya that I just found a wax distributor in my area and I know they have other locations in the midwest area. They have not raised their prices and are very reasonable on EcoSoya Waxes. Right now the CBA is just 1.23lb which is cheaper than I got it for from CandleScience last year! Plus they are having a huge sale this month. Just go to the home page and click on the "March Madness Sale" at the top. Anyway here is a link if anyone is interested....http://www.dpswax.com/Merchant2/merchant.mvc?Screen=CTGY&Category_Code=SOY Quote Link to comment Share on other sites More sharing options...
islandgirl Posted March 7, 2008 Share Posted March 7, 2008 What kinda of prices are you hearing???:undecided Quote Link to comment Share on other sites More sharing options...
Vio Posted March 7, 2008 Share Posted March 7, 2008 This is going to be interesting. What are they going to do when they aren't able to sell soy wax anymore I wonder? Quote Link to comment Share on other sites More sharing options...
Vio Posted March 7, 2008 Share Posted March 7, 2008 What kinda of prices are you hearing???:undecidedHe said double. So figure 50 bucks is goint to be 100 without shipping. Crazy. Quote Link to comment Share on other sites More sharing options...
Holly Posted March 7, 2008 Share Posted March 7, 2008 I bet they will lose business if it goes up that much......at least the little guy business. But a lot of little guys add up for better business for them. I sure hope it does not get that bad. Darn! Quote Link to comment Share on other sites More sharing options...
Jess05 Posted March 7, 2008 Share Posted March 7, 2008 OH NO...i'd love to heat exactly what price we are talking about here But it does sound pretty bad...ugh Quote Link to comment Share on other sites More sharing options...
Babean28 Posted March 7, 2008 Share Posted March 7, 2008 Okay, I'm fairly new to candlemaking and this message board, but I can't help but wonder why this person seems to know that prices WILL double. I mean, I have no inside info, and surely I can assume that prices COULD double. But it's when people start panicking and start racing out to purchase items that will drive cost up beyond the normal market value. A good example is gasoline. Two years ago Gasoline (in my neck of the woods) was $2.75/gal. There was word of the price per barrel going up and everyone panicked and decided to run out and fill up their gas tanks. The price of gasoline did go up, sure, but it went up higher than it normally would have because people panicked and raced out to get it before prices increased, not knowing that their doing this would inevitably increase prices higher and beyond what the normal increase would have been. Essentially what I'm saying, and at the risk of upsetting people on this board, is that demand is part of the problem - there is "realistic demand" and "unrealistic demand"...and if we all start panicking and begin ordering soy in vast quantities, larger than the market is accustomed to, sure the prices will double. Just my two cents. I'll get off my soapbox now... Quote Link to comment Share on other sites More sharing options...
Scented Posted March 7, 2008 Share Posted March 7, 2008 Because he's a supplier. Blue names on here are suppliers. Quote Link to comment Share on other sites More sharing options...
Babean28 Posted March 7, 2008 Share Posted March 7, 2008 Because he's a supplier. Blue names on here are suppliers.Ah, well that explains alot - I just learned something new! Thanks for the tip! :smiley2:Well I won't pretend to know everything. But I still think that if people panic and start running out to purchase larger than normal quantities that prices will increase because of this as well. Quote Link to comment Share on other sites More sharing options...
littlebrownbug Posted March 7, 2008 Share Posted March 7, 2008 For those of you who would use soy wax and like the C-3,Candlewic has it for $49.50 per case as of now. I don't know if they will raise their prices on this once the supply runs out,but with soy prices going the way they are(palm wax will probably do the same in the future as well),they more than likely will go up accordingly. So for now the C-3 can be bought for only....lol $49.50 per case.Mike Quote Link to comment Share on other sites More sharing options...
Brad Ford Posted March 7, 2008 Author Share Posted March 7, 2008 to be clear...the "double" reference was to the old to new contract price. I expect prices to increase $0.10 + per pound - minimum. Quote Link to comment Share on other sites More sharing options...
banirs Posted March 7, 2008 Share Posted March 7, 2008 The reason soy prices are going up is not because of the small demand candle makers are making, it's the huge demand ethanol is making. Have you noticed the price of food lately? It is not just the price of gasoline it is the price of our basic food commodities. Corn, soy and sugar is all used to make ethanol.Sorry for the bad news.Banirs Quote Link to comment Share on other sites More sharing options...
Brad Ford Posted March 7, 2008 Author Share Posted March 7, 2008 ...+ China is buying 50% of soybean production...the supply and demand dynamics are in play. Quote Link to comment Share on other sites More sharing options...
Kymber Posted March 7, 2008 Share Posted March 7, 2008 and read the markets......soybeans were $15 a bushel last week, with wheat being $20 a bushel. My dad and MIL are estatic over these prices!! That is close to a 5X increase over previous soybean per bushel price. You don't think that is going to come right down the pike? Stock up before the new contracts comeout because I think you are going to see it go up ALOT higher then .10 a pound in wax. Pretty soon when the wax is melted we will be able to call it liquid gold! LOL Quote Link to comment Share on other sites More sharing options...
CandleKat Posted March 7, 2008 Share Posted March 7, 2008 How depressing . Hope our clients understand what seems to be our inevitable price hike. - That is for those of us who can hang in there.Kathy Quote Link to comment Share on other sites More sharing options...
Babean28 Posted March 7, 2008 Share Posted March 7, 2008 How depressing . Hope our clients understand what seems to be our inevitable price hike. - That is for those of us who can hang in there.KathyYou are right - It is depressing Especially for those who are new to soy candlemaking - not to mention all the small business owners. Quote Link to comment Share on other sites More sharing options...
Vio Posted March 7, 2008 Share Posted March 7, 2008 From what I'm seeing, China has had a bad winter with many of their crops being destroyed. So, we're going to suffer because China needs more soy. Isn't that special??? Quote Link to comment Share on other sites More sharing options...
bugtussle Posted March 7, 2008 Share Posted March 7, 2008 Thanks, Brad. I was hoping you would post and give us some insight. Do you think paraffin will follow the same trend? How about palm? Unless palm goes sky-high, I'm thinking of subbing it for soy. Thks, Carole Quote Link to comment Share on other sites More sharing options...
Scented Posted March 7, 2008 Share Posted March 7, 2008 Paraffin is already up Carole. I've seen an increase of a little more than $3 a case, if I'm figuring correctly. Quote Link to comment Share on other sites More sharing options...
Brad Ford Posted March 7, 2008 Author Share Posted March 7, 2008 with oil @ $100+ per barrel..yes i expect paraffin to keep going up as well. I would be looking at regular increases for at least the next 6 months. Even if it goes down some...the lag time will prevent the wax price from going lower anytime soon.Palm is hard to say. It really depends on the demand for the product overseas. Since its not made here...and the value of our dollar is low...the product is worth more in other places - Europe for example. The chinese paraffin really slowed down last year here in the US, because they could sell the same wax for more money in Europe. But i would guess that palm wax will not go up in price as fast or often as soy. Might be a good short term solution. Quote Link to comment Share on other sites More sharing options...
kandlekrazy Posted March 7, 2008 Share Posted March 7, 2008 From what I'm seeing, China has had a bad winter with many of their crops being destroyed. So, we're going to suffer because China needs more soy. Isn't that special??? Really sad that because we ship 50% of our crop to another country it creates a shortage here which inflates prices on top of the additional shipping that we are absorbing. Can't wait to see what will happen after the election. Quote Link to comment Share on other sites More sharing options...
Vio Posted March 7, 2008 Share Posted March 7, 2008 Yeah. I know. Totally pi**es me off. We need to make sure they're OK there so we raise the prices here? Why not charge them double and give people here a break? No that would be too easy. China's dollar closely matches ours right now. Incredible right? So we have to get a country to pay close to what we pay to produce, so China is actually desireable right now, more than ever for trade with the dollar here being so low. Just makes me want to scream. I don't care who gets in this election. They better fix this stuff. This is just insane.Even more incredible is they're a communist country. It just amazes me. Thank you Nixon for fixing that thing with China. Quote Link to comment Share on other sites More sharing options...
Scented Posted March 7, 2008 Share Posted March 7, 2008 Well don't you think it's fair trade for lead paint in toys and can't remember exactly what in toothpaste, but something close to lethal lol. Quote Link to comment Share on other sites More sharing options...
bugtussle Posted March 7, 2008 Share Posted March 7, 2008 Yes, paraffin is up a couple dollars/case but not .29/lb like soy. Just trying to make plans for next fall. I buy wax by the pallet (or at least 10 cases) and will be out by the end of summer. Carole Quote Link to comment Share on other sites More sharing options...
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