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Nathaniel Boos, Co-Founder and CEO of Southern Defense says worldwide demand for smokeless gunpowder is behind raising ammunition prices. Armed conflict in Gaza and Ukraine are driving demand for gunpowder. Certain calibers of ammunition are up 50% since Hamas invaded Israel in early October of 2023. Civilian demand for ammo is increasing too, as more new gun owners in the US drive demand as well.
Boos said some of the precursors to gunpowder are only produced in Russia and China - which is impacting worldwide supplies of gunpowder as well.
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