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Over a thousand clearing and forwarding agents protested at the Port of Mombasa after Kenya Revenue Authority raised duties on commodity cargo including rice and powdered milk without notice, leaving about 1,200 containers uncleared. The article also notes earlier strikes disrupted South Korean ports.
Higher duties and clearance delays at Mombasa slow East African imports of rice and dairy, which can reduce near-term demand and build port backlogs in the region.
porttechnology.orgPort Technology TeamNov 1, 2016After 100 past bearish policy events, RICE moved a median -0.1% over 5 sessions (49% higher; middle half -1.7% to +1.6%), and +0.1% over 20.
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.
