Continuing Effects of COVID-19 and Other Events (UPDATED JULY 21)
Since our last update in April 2021, circumstances around the importation of most products have continued to deteriorate. There remain some difficulties that are directly related to COVID-19 and ex-factory production, but the bigger factor now is the chaos that reigns in terms of international sea and air freight movements. With the Christmas/New Year peak season fast approaching, we anticipate that import space will continue to tighten, and that the freight amounts we will be forced to pay will further spike.
In the above circumstances we encourage all our customers to think ahead as much as possible. If our lead time was previously 3-4 weeks, it’s now probably around 6-8 weeks. If our lead time was previously 10-14 weeks, it’s now probably 16-24 weeks.
By the beginning of September 2021, many of our products will have experienced a price increase. Most products will have a price increase of around 3%, compared to levels at the beginning of 2021. Some products – Acetone for example – have had considerably larger price increases. COVID-related supply issues, and major difficulties in the availability and cost of freight services, have been the main contributors to these increases. The only good news is that your customer discounts remain in place!