# Red Sea conflict sets bomb ticking under Aussie ag shipping costs | Farm Online | ACT

> Australian exporters and importers face surging container freight costs and space shortages as Houthi attacks have forced vessels around the Cape of Good Hope. Freight times between Asia and Europe have nearly doubled, and port congestion in Singapore and elsewhere is worsening. Analysts warn of pressure on grain and meat exports ahead of the harvest.

- Date: 2024-07-01 · published 2024-07-01T12:00:00.000Z
- Category: logistics · region Australia · magnitude low
- Page: https://feedsoft.ai/events/17019-red-sea-conflict-sets-bomb-ticking-under-aussie-ag-shipping-costs-farm-online
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Barley](https://feedsoft.ai/c/BARLEY.md)

## Why it matters

Higher freight and port delays raise costs for Australian grain and meat exports and imported feed inputs, supporting firmer export basis and delivered feed prices.

## Read by commodity

- WHEAT: neutral
- BARLEY: neutral
- OCEANFRT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2017-06-29 | [Black Sea shippers favoring Ukraine over Russia \| Journal of Commerce](https://feedsoft.ai/events/70336-black-sea-shippers-favoring-ukraine-over-russia-journal-of-commerce.md) | +2.3% | -2.9% |
| WHEAT | 2023-04-06 | [Grain Trade Australia says record crop, not market failure behind price lag \| Farm Online \| ACT](https://feedsoft.ai/events/36374-grain-trade-australia-says-record-crop-not-market-failure-behind-price-lag-farm.md) | -3.0% | -2.4% |
| WHEAT | 2021-05-14 | [Ag Shippers Relieved as Mississippi River Reopens \| Red River Farm Network](https://feedsoft.ai/events/47000-ag-shippers-relieved-as-mississippi-river-reopens-red-river-farm-network.md) | -1.3% | -4.0% |
| WHEAT | 2026-01-21 | [Ukraine refutes reports of shipowners steering clear of its Black Sea ports](https://feedsoft.ai/events/14148-ukraine-refutes-reports-of-shipowners-steering-clear-of-its-black-sea-ports.md) | +2.7% | +4.3% |
| WHEAT | 2023-04-22 | [New grain production records have been met with new export capacity \| Farm Online \| ACT](https://feedsoft.ai/events/36368-new-grain-production-records-have-been-met-with-new-export-capacity-farm-online.md) | -8.3% | -10.0% |

## Sources

- farmonline.com.au: https://www.farmonline.com.au/story/8681601/red-sea-conflict-sets-bomb-ticking-under-aussie-ag-shipping-costs/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.