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New Zealand's foreign ministry outlines how Houthi attacks in the Red Sea are disrupting Europe-New Zealand trade, with many carriers avoiding the Suez Canal. Panama Canal capacity constraints compound the problem.
Some exporters report delays, higher transport costs and cancelled orders, with impacts expected to worsen in the April-May peak period.
Longer routings and capacity limits raise ocean freight costs and delivery times for grains and feed ingredients moving between Europe, Asia and Oceania, supporting freight-driven upward pressure on landed feed prices.
mfat.govt.nzNew Zealand Ministry of Foreign Affairs, TradeFeb 15, 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.
