News Content
Russia goes to Latin America to bypass sanctions, Maersk discovers
RUSSIA has responded to economic sanctions imposed by the EU, the US, Canada and Norway because of its of military intervention in the Ukraine, by importing food from Latin America, says Maersk Line.
Maersk has noticed a surge in Latin America reefer demand for beef, poultry, fruit, vegetables, fish and seafood.
"Demand for reefer capacity out of Latin America has increased noticeably due to Russia increasing its imports of salmon from Chile, poultry from Brazil and grapefruit from Peru," a Maersk spokesman told Lloyd's Loading List.
Maersk said scarcity was driving up prices, although price increases for Russian imports are not just limited to food.
The ruble has depreciated 20 per cent against western currencies since January and Russian importers and ultimately consumers now face paying considerably more for a broad range of imported non-edible goods.
A Russia-based executive for one forwarder said the effects of the ban on food imports were now visible in supermarkets, which he said were "low on stock, especially for fruit and vegetables, as well as dairy products - cheese in particular."
This sparked fears that sea and air freight volumes to Russia could be hit in the final quarter of the year.
Maersk has noticed a surge in Latin America reefer demand for beef, poultry, fruit, vegetables, fish and seafood.
"Demand for reefer capacity out of Latin America has increased noticeably due to Russia increasing its imports of salmon from Chile, poultry from Brazil and grapefruit from Peru," a Maersk spokesman told Lloyd's Loading List.
Maersk said scarcity was driving up prices, although price increases for Russian imports are not just limited to food.
The ruble has depreciated 20 per cent against western currencies since January and Russian importers and ultimately consumers now face paying considerably more for a broad range of imported non-edible goods.
A Russia-based executive for one forwarder said the effects of the ban on food imports were now visible in supermarkets, which he said were "low on stock, especially for fruit and vegetables, as well as dairy products - cheese in particular."
This sparked fears that sea and air freight volumes to Russia could be hit in the final quarter of the year.
Latest News
- For the first time, tianjin Port realized the whole process of dock operati...
- From January to August, piracy incidents in Asia increased by 38%!The situa...
- Quasi-conference TSA closes as role redundant in mega merger world
- Singapore says TPP, born again as CPTPP, is now headed for adoption
- Antwerp posts 5th record year with boxes up 4.3pc to 10 million TEU
- Savannah lifts record 4 million TEU in '17 as it deepens port
