Global import price levels could increase by 11% due to global demand surge and limited supply. Several factors point towards an increase in freight rates while importing goods from China across the next few months. We advise booking freight containers from China now to avoid getting caught up in the upcoming cycle of capacity squeezes.
In a sign of forthcoming times, the global telematics equipped container fleet is expected to rise eight-fold in the next five years. Amid wider adoption, Drewry’s latest Container Census & Leasing Annual Review and Forecast for 2022/2023 highlighted this matter recently.
Sugar marketing season starts from October. The cane crushing season generally starts in October-November and continues till mid-April. India’s total sugar production is estimated to be higher at 40 million tons in the 2022-23 season when compared to 39.5 million tons in the current season.
The US supply chain has shown some signs of improvement over the past few months. The turnaround time for vessels peaked in February, and, after concerted efforts from industry and the government, it seems the worst may be over, at least for the time being.
Ukrainian grain exports have been essential for global food security. Even as the Russia-Ukraine war lingers, the UN is making sure food supplies from Ukraine make their way to international markets. Japan’s investment in Ukraine’s agricultural and supply chain sector is a welcome move.
India’s coal and crude oil imports are rising at a time when prices for both these commodities are on the rise. A falling Rupee, and the widening gap between imports and exports is increasing the current account deficit. As per the government of India, export of certain goods are down due to adverse geo-political developments. Following the watch and wait approach, the Reserve Bank of India may let the Rupee slide further against major currencies.
SMEs play a key role in the global economy. They create two-thirds of all jobs and contribute more than 50 percent of the GDP in OECD countries. As environmental, social and governance (ESG) reporting becomes mainstream, SMEs must configure their operations to comply with local and international laws.
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