What's going on with Soy Wax Prices?

At CandleScience, we view the recent dramatic rise in soy wax pricing as more than a simple price increase and therefore wish to explain the changes in the market that have driven the increases.

The short answer is demand for soybean oil, the main component wax manufacturers (Cargil, NGI, Golden Brands) use to make soy wax, has more than doubled since January 07. Oil prices had been relatively stable prior to 2006, when the biofuels market started to really pick up, and foreign countries began buying large amounts of US soy. Biofuels are alternatives to petroleum made from vegetables or plants that burn with lower emissions and reduce our dependence on Middle Eastern oil. While this has been great for American farmers, the environment, and the US economy as a whole, it has been tough on those of us used to buying soy at a lower price. We know that wax increases may force you to raise prices as well, make sure to let your customers know about biofuels and the other causes as well.

As you know, CandleScience works tirelessly to keep prices low, and will continue to strive for the best natural wax prices. Rest assured that if and when costs decrease, our price will reflect that savings. We truly appreciate your business, please contact us with any questions or concerns. We're here to help.