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West African rice traders warn that import prices could rise because breakbulk and container freight rates from India and other Asian origins have increased sharply. Breakbulk freight from Kakinada to West African ports is about $120/mt versus $240-250/mt for containers.
Local prices in Benin, Togo, Ghana, Senegal and Côte d'Ivoire fell after a flurry of Indian arrivals.
Higher freight costs are squeezing margins and may lift landed rice prices in West Africa even though FOB prices in India are stable.
thevaultznews.comMaynard ChampionAug 26, 2021After 21 past bullish logistics events, Rough Rice moved a median -0.5% over 5 sessions (38% higher; middle half -2.0% to +1.8%), and +3.6% over 20.
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.
