Less bang for your buck: Why fireworks prices are way up
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(NewsNation Now) — The cost of everything from sparklers to mortars is way up this Fourth of July weekend, with the American Pyrotechnics Association reporting prices have doubled since 2019.
Since 95% of fireworks sold in the US are imported from China, according to some estimates, their cost is particularly affected by global supply chain issues caused by the COVID-19 pandemic.
The founder of a logistics company, Salvatore Stile of Alba Wheels Up International, says supply is being restricted by everything from pauses in production caused by Covid in China to delays in goods being unloaded from ports.
According to Stile, the U.S. ranks near the bottom in the efficiency of getting goods out of ports.
“The supply chain has become so erratic, so expensive, that many retailers and companies if you purchase an item and want to return it, you actually tell you to keep it, they don’t want it,” Stile said.
Another factor is shipping companies will prioritize goods that they can make more money on. So even if prices begin to drop on some things, importers could shift their priorities to luxury items that are more profitable. It all adds up to higher costs of goods coming from abroad.
