03.15.16
Reichhold has announced a price increase of up to $0.06 USD per pound on all coconut alkyd resin products manufactured in the United States and Canada for the coatings industry. This increase is effective for all orders shipped on or after April 15th.
Julie Fuell, Sales Director North American Coatings, stated, “The depressed coconut crop outputs over the last two years brought about by typhoons, drought, and extreme rain have cut copra outputs by 25% and are the main driver for the spike in coconut oil prices. In addition, the recent unforeseen spike in demand for coconut water is impacting an already depressed crop. We appreciate the understanding of our customers as we continue to do everything possible to limit the impact of rising costs and limited raw material availability upon product pricing and supply.”
Julie Fuell, Sales Director North American Coatings, stated, “The depressed coconut crop outputs over the last two years brought about by typhoons, drought, and extreme rain have cut copra outputs by 25% and are the main driver for the spike in coconut oil prices. In addition, the recent unforeseen spike in demand for coconut water is impacting an already depressed crop. We appreciate the understanding of our customers as we continue to do everything possible to limit the impact of rising costs and limited raw material availability upon product pricing and supply.”