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A market intelligence firm says strong sea freight demand has surprised markets and a surge in the upcoming peak season could push container costs back to mid-2021 pandemic levels. Freightos FBX rates from China/East Asia to North Europe reached about US$7,114/FEU, and port congestion hit an 18-month high while German union Verdi announced port strikes.
Higher ocean freight raises landed costs of feed amino acids such as lysine and methionine imported into Europe and elsewhere, pushing up feed formulation costs for buyers.
agnavigator.comJane ByrneJun 21, 2024Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not 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.
