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The Xeneta Shipping Index showed long-term contracted ocean freight rates rose 3.9% in February 2022 after a dip in December and January. Rates are up 87.9% year on year, with port congestion, strong demand and Ukraine-related uncertainty expected to keep pressure on.
Persistently high ocean freight raises the delivered cost of imported feed ingredients and can widen origin price spreads for buyers.
scceu.orgMar 1, 2022Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
