Price of Australian beeswax has soared six-fold in five years

Price of Australian beeswax has soared six-fold in five years

The price of Australian beeswax has shot up over the last five years, rising from $5 per kilo to $30 per kilo as demand for pharmaceutical-grade beeswax increases, according to a report published by The Guardian.

Australia is the only country in the world to boast hives free of the varroa mite, which makes its beeswax particularly sought after, especially for use in cosmetics such as lip balms, candles and men’s grooming products.

As a consequence of the price increase not only are many businesses that rely on the raw material being forced to pass on the price increase to consumers but also several have been victim of unscrupulous sellers attempting to pass off other waxes as cosmetic grade beeswax.

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