All You Need to Know About the Helium Price Increase

Why the world is hungry for helium

Following the previous price increases, we are facing yet another bigger hit of price increase. Along with the inflation, this increase will be devastating for small businesses like Vancouver Balloons and will also put a heavy note on the entertainment industry, the high tech industry, and research facilities.  

What's Happening With Helium

Though Helium is the second-most-abundant element in the universe, just after Hydrogen, there is a very rare amount of Helium on the Earth we are walking on. As a by product of Uranium decay, Helium can't be artificially manufactured by any other chemicals. And therefore, countries that have the ability to produce it is very limited, primarily being supplied by Russia and the U.S.A. 

Helium is a vital resource and commonly needed in MRI, laboratory use, welding, balloons, electronics and leak detections, etc. Due to its irreplaceable nature in high tech, medical, science, and entertainment fields, Helium shortage has been putting a heavy strain on the whole world in the past two years. 

The most devastating reasons for Helium shortage and price increases have to do with the global supply chain interruption due to the dreaded pandemic and the influence of the war in Ukraine. Back in January, a leak in the Texas helium reserve as well as the explosion in a major Russian helium facility has also played a big part in this helium chaos. 

With the issues listed from above, the US Bureau of Land Management has also stopped their sale of helium to private industries and is still stockpiling for Federal users. The current unit price for Helium has spiked over 135% in the past two years, with the demand being the same and the supply running lower and lower, the helium production is facing more difficulties catching up to feed the whole global market; and of course, we are still yet to see more price spikes as inflation really kicked in hard.

Vancouver Balloons' Response 

During the last price increase, we have kept our everyday products as well as packages at a lower market price trying to help our local YVR folks to enjoy celebrations as we were just out of a depressing time. As sad and angry as we are for the current situation in Ukraine and the economy we are living and breathing everyday, we have to announce the bad news that we must put our prices up to where they need to be now in order to survive as a small local business. 

Many of you may have noticed this helium shortage as a lot of the usual balloon go to places are out of helium, though we are facing the same issues, rest assured we can still provide helium tank rentals as well as daily balloon creations. As one of Vancouver's oldest balloon boutique, we have always provided our customers with the best quality of helium that is the purest (99.99%), and this will remain the same even in this chaotic time. 

What Does All of These Mean for You?

Although we are facing another 30% raise on top of the previous helium price increase, Vancouver Balloons is not planning to put all the pressure on you. Starting this Pride week, you will notice a price change in all our products and services with a 7.7% - 20% increase depending on the specific product/service.  

Your understanding and support means a lot to the Vancouver Balloons Team, and it is the memories we create for you that values the most for us. We will continue to provide the best service and give you set-up advices through email and in person consultation sessions, and we sincerely hope our effort in keeping the price of services steady can greatly help you in planning your event and celebrations.

Information Source Links:

The Harvard Gazette

Bloomberg

Helium One