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Due to the Iran conflict, oil prices have increased substantially, which in turn has increased import costs for Aquatree, Bootstrap Farmer and GreensStalk products. An increase in oil prices has a knock-on effect to most parts of our business, including domestic courier costs and packaging.
We are anticipating price rises for our products in the near future, both due to increased import costs for the products and the knock-on price increases on local products and services we use.
We have not increased product prices yet. However, we have disabled the option for customers to backorder affected products in order to protect against volatile price increases in our import costs. We will still be ordering from our suppliers but we will be assessing product prices at the time of ordering.
At the moment we are out-of-stock of some popular products in the Bootstrap Farmer range, and Bootstrap Farmer have been out-of-stock as well. We are ordering top-up supplies both by air, as well as bulk replacement stock by sea (3 month wait). The prices of products will most likely increase when we restock them.