Video Transcript:

Hi everyone this is Ricky Chu from Chu’s Packaging Supplies.

Lately, things have been getting back to normal in terms of businesses opening up and us being able to do normal day-to-day transactions

But we face other challenges. In the past few months the inbound containers have been delayed significantly.

If you look at the Long Beach port you can see a lot of ships lined up because they can’t get in.

There’s a shortage of containers in China so whatever gets over here if it stays too long then they have nothing to release over

there.

So if you’re importing via ocean; whether it’s from Europe or Asia make, sure you tack on a couple extra weeks for delivery time because things are a lot

slower than they normally are in terms of raw material paper.

There are also corrugated shortages on resin for plastics.

So what that all equates to is supply and demand.

There’s a shortage on material that, means prices go up.

So lately, we’ve seen a huge spike in prices on all the packaging products.

As things start to open up we expect the prices to level out hopefully we see some decreases.

It’s not very common but it’s also not uncommon to see this many increases hit at one time.

We’re keeping a close eye on the situation and everything we do is to make sure that our customers are fully aware of what’s going on in the world so if prices drop we do the same thing for our customers,

We want to make sure everyone gets the best price the best service and the quickest delivery.

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