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UNCTAD reports that global shipping costs surged in the first half of 2024 due to route disruptions and higher operating expenses. The SCFI Shanghai to South America rate more than doubled to $9,026 per TEU, the highest since September 2022.
Elevated container and bulk freight raises landed costs for feed ingredients imported by vulnerable importers, potentially curbing purchases and pressuring import demand. Higher ocean freight widens basis differences between origins.
freshfruitportal.comEileen RodriguezNov 11, 2024Not 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.
