Buddhist Incense Prices Rised Up

“Oh, the price of Buddiest incenses rised again. As workers demand higher wages and prices of raw materiasl are rising, profit margins is shrinking. This year the Buddiest incense industries all have to rise prices. Since the beginning of Sept., prices of incenses have been raised and some low-end product sales are significantly affected and falling down are the trading volume.” Xiao Ming, a Buddiest incenses dealer in Yiwu International Trade City said in great emotion.

“During the Spring Festival, incenses are in great demand in temple. Dealers have started stocking and after the new year they will supplement goods again.” It’s learned from the dealers that driven by the tourism economy, the merchants started stocking as early as the end of September. The “Golden Week” of National Day opened the curtain of Buddhist incenses sales “rash season”. The season may last to lunar January of the following year.

The Buddhist incenses at Yiwu International Trade City are maily sold to domestic markets, the Southeast Asian countries and South Korea. With the appreciation of South Korean yuan, the purchasing volume of incenses are more or less the same as that of last year. Since the market share of foreign trade is comparatively small, the incense market hasn’t been influenced by the appreciation of RMB.

It is known that the market price of Buddhist incense is generally between 4-200 yuan, of which incenses under 10 yuan sell the best. Due to the rising of prices, many customers withdrew orders, which has brought great pressure to the dealers. Therefore, some of them began to take active measures: on one hand, compressing their own profit margins and on the other hand cutting down the costs of warehousing, logistics and so on.