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FAO reports that shipping costs are rising again as Houthi attacks force Suez Canal ships to reroute around the Cape of Good Hope. Drought has also limited Panama Canal transits to a fraction of normal levels.
Container freight indices have risen sharply since October 2023.
Higher freight and longer voyages increase landed costs for feed ingredients imported into Europe and Asia, supporting prices for competing origins and tightening import margins.
fao.orgFeb 2, 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.
