Friday 3rd April 2020
The recent turmoil in financial markets has caused a big decline in the Australian dollar. This has been compounded by significant increases in international freight costs arising from a large decline in air freight capacity resulting from the drastic decline in international air travel. These factors are forcing us to raise prices on many resources. We have tried to hold prices over the last few months as the Australian dollar has tumbled but it looks like a lower Australian dollar is here to stay for a while and we are paying significantly more for any products sourced from overseas, particularly from the USA and the UK.
So if you are browsing on our website and think the price of something has gone up since you last looked, unfortunately it may well be so. We will continue to monitor the situation and when things swing the other way we will move as quickly as possible to pass on any savings to our customers (as we have done in previous periods of exchange rate volatility).
UPDATE - 9th April
COVID-19 freight surcharges have gone through the roof in the last week. We are scrambling to find alternatives but there are very limited options available. For example, the surcharge per kilo on UK airfreight is currently more than the regular per kilo charge, ie. the cost per kilo has more than doubled overnight. These charges cannot be absorbed so we have to either raise prices or temporarily suspend sale of out of stock items.
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