Price increase coming into effect on April 8th 2024

To our valued customer,

With the recent announcement of minimum wage increase this year, property rental cost increase, shipping rates increase, and the significant increase of the price of cocoa, we unfortunately have to increase our prices as well in order to stay in business.

To break it down:

• Minimum wage in Ontario will be going up to $17.20 on Oct 1st 2024.
• Our lease at our production facility in Mississauga, Ontario is going up by 80% as we sign a new lease.
• The price of shipping across North America has increased by over 30% since last year.
• The problems in the Red Sea have resulted in 5-6x the price of shipping to Canada from Palestine and neighbouring countries.
• Extreme weather events like drought and high temperatures in West Africa, where most of the world’s cocoa beans are grown, have made it difficult for cocoa crops to be successfully harvested. This has led to a global shortage of cocoa beans and caused the price of cocoa to go up by 4x. To put it into perspective, something that was $2,500 a ton a year ago is now $10,000 a ton.

With all that in mind, we have no choice but to increase prices on April 8th 2024 in order to stay in business in Canada. To reduce the impact, we’ll be introducing smaller size boxes and you’ll have more purchasing options.

We thank you for choosing Palm Bites, and we look forward to continually bring you the best date products in the market with several new flavours and innovative ideas coming your way.

Kind regards,

Mustafa Al-Siaudi
Founder, CEO