(Bloomberg) Supply Lines is a daily newsletter that tracks Covid-19’s impact on trade. Sign up here, and subscribe to our Covid-19 podcast for the latest news and analysis on the pandemic.Food is piling up in all the wrong places, thanks to carriers hauling empty shipping containers.Global competition for the ribbed steel containers means that Thailand can’t ship its rice, Canada is stuck with peas and India can’t offload its mountain of sugar. Shipping empty boxes back to China has become so profitable that even some American soybean shippers are having to fight for containers to supply hungry Asian buyers.“People aren’t getting their goods where they need them,” said Steve Kranig, director of logistics at IM-EX Global Inc., a freight forwarder that handles cargoes including rice, bananas and dumplings from Asia to the U.S. “One of my customers ships 8 to 10 containers of rice every week from Thailand to Los Angeles. But he can only s
Sugar Refiner Says Container Shortage Limiting India Exports
Bloomberg 1/29/2021
(Bloomberg)
Supply Lines is a daily newsletter that tracks Covid-19’s impact on trade. Sign up here, and
Popular Searches
A shortage of shipping containers in India, the world’s second-biggest sugar producer, is hurting shipments even as overseas demand stays robust, according to an industry official.
The nation has exported only 70,000 tons of white sugar in containers this month, compared with about 370,000 tons in January 2020, said Ravi Gupta, president of Shree Renuka Sugars Ltd, the country’s top refiner.
Shipping rates have risen globally as demand for goods rebounded more strongly than expected in the second half of 2020, creating a container shortage. Geopolitical tensions with China have also reined in imports into India, meaning fewer incoming containers.
Sugar Refiner Says Container Shortage Limiting India Exports
Bloomberg 1/29/2021
(Bloomberg)
Supply Lines is a daily newsletter that tracks Covid-19’s impact on trade. Sign up here, and
Popular Searches
A shortage of shipping containers in India, the world’s second-biggest sugar producer, is hurting shipments even as overseas demand stays robust, according to an industry official.
The nation has exported only 70,000 tons of white sugar in containers this month, compared with about 370,000 tons in January 2020, said Ravi Gupta, president of Shree Renuka Sugars Ltd, the country’s top refiner.
Shipping rates have risen globally as demand for goods rebounded more strongly than expected in the second half of 2020, creating a container shortage. Geopolitical tensions with China have also reined in imports into India, meaning fewer incoming containers.
FMCG stocks were trading in the negative zone, with the S&P BSE FMCG Sector index falling 165 points or 1.29% at 12656.71 at 13:48 IST. Among the components of the S&P BSE FMCG Sector index, Venkys (India) Ltd (down 5.67%), ITC Ltd (down 2.55%),S H Kelkar & Company Ltd (down 2.46%),Eveready Industries India Ltd (down 2.3%),Associated Alcohols & Breweries Ltd (down 2.22%), were the top losers. Among the other losers were CCL Products (India) Ltd (down 2.18%), Kokuyo Camlin Ltd (down 2.02%), Godrej Consumer Products Ltd (down 1.99%), Vishwaraj Sugar Industries Ltd (down 1.88%), and EID Parry (India) Ltd (down 1.85%). On the other hand, Bajaj Hindusthan Sugar Ltd (up 6.86%), Shree Renuka Sugars Ltd (up 6.06%), and AVT Natural Products Ltd (up 4.11%) moved up.