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The IGC Grains and Oilseeds Freight Index rose 19% year on year to 177 on Dec. 12, recovering from a 52-week low of 117 in July.
Capesize and Panamax rates rose sharply in November, driven by port congestion and disrupted trade patterns. Analysts cite war, supply chain disruption and drought as added pressures on 2024 shipping costs.
Higher bulk freight rates raise landed costs for grain and oilseed imports into feed-buying regions, supporting import-parity prices for feed ingredients.
world-grain.comMichael KingDec 22, 2023Not 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.
