White Salt & Exchange Rates
The cost of de-icing salt across the board is on the climb, the effect of diminishing exchange rates on White Salt, and what does this mean for locally sourced British Rock Salt?
The UK has not seen such a severe winter since the nationwide madness that was winter 2010. That winter, the cost was extremely high due to the severity of weather and the endless demand.
Since then the demand has not been so high, and many suppliers have been left with plenty of stock, ready for a winter that has not yet arrived in full force. This has allowed suppliers to sell this stock off cheaper than usual in recent years.
With an extreme winter long overdue, and the excess of suppliers stocks under control the costs will rise naturally. Thankfully Online Rock Salt currently has two ship loads of White Salt at a UK port ready for the winter, so our customers need not worry about supply, no matter the weather.
The cost of White Salt is also rising significantly due to something entirely different; The exchange rate with the (not so)Great British Pound. With White Salt being sourced overseas from places such as Egypt - or closer to home at destinations such Spain, this is causing all UK suppliers to get less salt for the pound when it comes to the importing
For example, the GBP to Euro exchange rate saw highs in 2015 of an impressive 1.44, the uncertainty over the EU referendum caused the rate to drop to below 1.30 as we got closer to June 2016. The week of, and the result of the EU referendum saw the rate plummet to 1.20 in a matter of days. With many hoping it would soon rise, it has in fact been the opposite, with lows of 1.09 being seen just recently in August 2017 - a 5 year low.
Now more than ever, locally mined Rock Salt is more competitive in comparison, and becoming a great viable alternative for White Salt users. If you are unsure on the real differences of White Salt and Rock Salt, you can see our Rock Salt Vs White Salt page.