Why are Kratom Prices Going Up?
I wanted to give a quick heads up on kratom import status and how it is affecting domestic kratom prices. You may have heard that there has recently been a surge in confiscating shipments incoming to the USA. This last month most shipments have been confiscated in the country of origin. Mainly Indonesia. We have been affected by this as well as all of the MAJOR importers. I know of 2 of the biggest importers lost 160+ tons in one day. This is tragic for the domestic market. These 2 importers supply the majority of the branded kratom in the USA. This has made an impact on supply. Many of those companies have gone out of business as their supply has dried up. Others have had to look elsewhere to provide the main ingredient in their product. Unfortunately, their costs have risen and they are not able to maintain their current prices. Nuwave Botanicals is a distribution company for a few of these brands. Our cost to purchase these products has risen from 20-25%. Once the supply chain goes back to normal we hope that prices will stabilize. We are hoping that future shipments will not be impacted and this is a temporary problem. It is possible that future shipments will not be as successful and prices will continue to go higher. We hope that this is not the case. Keep checking daily on stock status.
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