By Anders Anglesey | ON 12/7/23 AT 12:44 PM EST

Vista Outdoor, a parent company to many firearms businesses, told Newsweek that it will substantially increase its ammunition prices due to "an anticipated global shortage of gunpowder."

The Minnesota-based company confirmed the authenticity of a December 1 letter sent to customers that it would go ahead with an across-the-board increase of its ammunition and gunpowder prices on January 1.

"Due to world events our suppliers have notified us of unprecedented demand for and an anticipated global shortage of gunpowder, and thus has increased our prices substantially," Vice President of Sales, Sporting Products Brett Nelson said in the letter. "We must therefore raise our pricing to help offset those increases."

Companies that will increase their prices include Remington, Alliant Powder, CCI, Federal, SEVI-Shot and Speer. The following increases include:

• Shotshell: 1-7 percent
• Rifle: 1-7 percent
• Handgun: 1-5 percent
• 22LR/Shorts: 1-5 percent
• WMR/HMR: 1-7 percent
• Primers: 5 percent
• Alliant Powder: 10 percent (limited availability).

Vista Outdoor also told customers that unless they cancel an order, it will reprice "existing and future orders shipped on or after January 1, 2024, to the new prices." New price lists will follow in the coming weeks, Nelson said in the letter.

Ammunition prices have steadily increased over the decades, including a notable hikeduring the COVID-19 pandemic as supply soared while supply chains were heavily disrupted.

While Vista Outdoor did not specifically say which world events contributed to the increase, the war in Ukraine and the conflict between Israel and Hamas in Gaza have resulted in substantial demand for ammunition.

Following a call for support from Ukrainian President Volodymyr Zelensky, Vista Outdoor pledged in March 2024 to support the country through a 1-million-round ammunition donation.

"Supporting the relief effort is a crucial element of the global response and we are proud to do our part," Vista Outdoor said in the release.

"It underscores how critical the Second Amendment is in America and highlights the importance of the ability of American Manufacturers to supply our allies with ammunition. We have long supported Ukrainian armed forces and we will continue to do so in this global cause to unite for democracy."

In September, NATO allies and partners met in Paris and agreed to $2.58 billion worth of contracts and orders for "hundreds of thousands of pieces of key ammunition." The first deliveries were scheduled to start toward the end of this year.